In addition to announcing plans for his own political party, Musk spent the 4th of July long weekend bashing the Republican megabill Trump signed into law on Friday, praising Rep. Thomas Massie (R-Ky.) for opposing that bill, and lamenting his work leading the Department of Government Efficiency earlier this year.
“What the heck was the point of @DOGE if [Trump]’s just going to increase the debt by $5 trillion??,” he wrote on Sunday on X, the social media website he owns.
The world’s richest person seemed to have gotten under Trump’s skin. The president said in a lengthy Truth Social post on Saturday that Musk had gone “off the rails” and chastised his former ally’s bid to launch a third party. The president further suggested that the source of Musk’s frustration with the so-called “big, beautiful bill” stemmed not from its overall government spending but from something more self-serving – its elimination of tax breaks for electric vehicles like the ones produced by Musk’s automaker Tesla.
The social media flurry further cemented the demise of what was once a historically powerful political alliance. Musk spent nearly $300 million to help Trump and other Republicans get elected last year. Once elected, Trump allowed Musk to lead DOGE, spearhead the mass firings of federal employees and install loyalists in various positions throughout the administration.
One of those Musk allies, Jared Isaacman, was tapped to lead NASA before Trump pulled his nomination because it was “inappropriate,” citing Musk’s SpaceX and its close ties to NASA, the president said on Saturday.
Musk’s attacks on Trump continue despite the mounting downward pressure on his business. On Monday, Tesla stock fell sharply on the news of his intent to form a third party. Tesla’s sales took a significant hit this year as Musk dabbled in politics, but the company’s stock trended upward as he stepped away from the Trump administration in May.
Musk has also continued to suggest that Trump and his Department of Justice are withholding information about the investigation into convicted sex offender Jeffrey Epstein, whose arrest and suicide have been the subject of conspiracy theories popular with the online right. The accusations follow his previous claim that files related to the investigation are being withheld because Trump is referenced in documents connected to the case.
The Justice Department released a tranche of documents connected to the case in February, but has yet to release all files connected to the case. Trump has not been accused of any wrongdoing in connection to Epstein.
For Trump, a determined effort by Musk to launch a third-party could pose problems in next year’s midterms. Aside from his pledge to back Massie against Trump’s effort to primary him, Musk’s third party appears calibrated to eat into a segment of Republican base voters — he indicated in social media posts the party would stand for shrinking the national debt, reducing business regulations, protecting free speech and treating the Second Amendment as “sacred.”
It’s unclear how much Musk plans to spend, which races he would target or how many states his party would qualify for ballot access. He suggested on Friday he may “laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts.”
