U.S. President Donald Trump on Sunday lashed out against former confidant Elon Musk over the latter's plans to form a third political party in the country, furthering a bitter public feud between the two.
In a long, rambling post on Truth.Social, Trump said he was "saddened to watch Elon Musk go completely ‘off the rails'," while criticizing the Tesla (NASDAQ:TSLA) CEO's plans for a new political party.
"He even wants to start a Third Political Party, despite the fact that they have never succeeded in the United States… The one thing Third Parties are good for is the creation of Complete and Total DISRUPTION & CHAOS," Trump said, while also criticizing the Democrats.
Trump touted his recently passed "big beautiful bill," over its scrapping of a proposed electric vehicle mandate, which he said was unfortunate for the world's richest man.
The president also brought up potential conflicts of interest between Musk and the National Aeronautics and Space Administration (NASA), in that he thought that Musk's pushing for a close, Democrat friend to lead the agency was "inappropriate."
Trump's post comes after Musk– who was Trump's largest financier during the 2024 elections– said on Saturday that he planned to form a new political party– the America Party.
The announcement highlighted a deepening rift between Musk and Trump, which appeared to be in part triggered by Musk's repeated criticism of the big beautiful bill. Musk had earlier said the bill will bankrupt America.
Musk spent hundreds of millions of dollars on Trump's campaign, and led the Department of Government Efficiency as part of Trump's administration. But he stepped down from the role in May, after which he was seen engaging in a public feud with Trump.
It remains to be seen whether the world's richest man can upset the Democrat-Republican duopoly that has dominated American politics for most of the country's existence. Unaffiliated parties have generally struggled to gain any sort of traction in the country.
The Libertarian Party, which is currently the third largest political party in the U.S. by voter registration, does not hold a single seat in Congress and had less than 700,000 voters registered as of 2020.
Source: Investng.com
Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Was...
According to a report from the US Department of Labor (DOL) released on Thursday, the number of Americans filing new applications for unemployment insurance rose to 208,000 for the week ending January...
Geopolitical issues have heated up again after statements and political signals from the United States sparked speculation about a possible US takeover of Greenland. Although no concrete action has be...
Private employment rose less than economists expected in December, according to the ADP report. Private employment rose 41,000 (Estimate +50,000) in December, compared with a revised -29,000 in Novem...
Greenland is not only a strategic location, but also a world-class mineral repository. The island holds vast reserves of rare earth elements (REEs), essential for modern technology. These minerals are...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...