Politics
Musk quietly puts brakes on plans for new political party
Billionaire Elon Musk is quietly putting the brakes on plans to start his new political party, telling allies he wants to focus on his companies, the Wall Street Journal said on Tuesday, citing people with knowledge of the plans.
Musk unveiled the ‘America Party’ in July after a public dispute with President Donald Trump on the tax cut and spending bill.
He has recently been focused in part on maintaining ties with Vice President JD Vance, the paper said, and has acknowledged to associates that forming a political party would damage his relationship with Vance.
Musk, the world’s richest man, and his associates have told people close to Vance that the billionaire is considering using some of his financial resources to back Vance if he decides to run for president in 2028, the paper said.
The CEO of Tesla and SpaceX spent nearly $300 million in 2024 to help Trump and other Republicans get elected, exerting enormous influence in the first few weeks of Trump’s term as head of the newly created efficiency department (DOGE).
Reuters could not immediately verify the Journal report. Tesla and the White House did not immediately respond to a Reuters request for comment outside regular business hours.
Vance, who had called for a truce following Musk’s all-public feud with Trump, reaffirmed his position this month and said he had asked Musk to return to the Republican fold.
Tesla shares are down more than 18% this year after it posted in July its worst quarterly sales decline in more than a decade and profit that missed Wall Street targets, though its profit margin was better than many had feared.
Musk also warned of “a few rough quarters” after the end of support for electric vehicles by the Trump administration.
Investors worry whether he will be able to devote enough time and attention to Tesla after locking horns with Trump over his ambitions for a new political party.
DUBAI: The President of the United Arab Emirates, Sheikh Mohammed bin Zayed Al Nahyan, observed iftar at Dubai Mall alongside senior members of the leadership, including the Crown Prince of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.
The iftar took place within the mall premises with members of the UAE leadership present, underscoring a message of unity, stability and resilience.
The gathering came amid regional tensions, with officials repeatedly stating that the country remains safe and secure.
Video circulating on social media showed the leaders moving through the venue, where shoppers gathered and waved as they passed.
Many visitors appeared surprised to see the UAE leadership at the location.
In one widely shared moment, a visitor from Ghana expressed excitement after meeting the President, describing the encounter as memorable. The President exchanged brief words with him and wished him an enjoyable stay.
The public presence drew attention inside the busy shopping destination, often described as one of the world’s largest malls.
The Iranian armed forces have started a new wave of extensive drone and missile attacks on targets in the Israeli-occupied territories and US assets in regional countries.
A late Monday statement from the Islamic Revolution Guards Corps (IRGC) said that the 11th wave of offensive attacks under Operation True Promise 4 had been launched by the naval and aerospace units of the elite force.
The statement said the “extensive and high-density operation” had targeted American intelligence centers and military support warehouses in the Persian Gulf region, the Israeli communications industries complex in the occupied city of Beersheba, as well as 20 locations in the occupied regions of Tel Aviv, West al-Quds, and Galilee.
It said the “brave sons of Iran’s armed forces” had used more than 700 drones and hundreds of missiles to hit 60 strategic targets and 500 military locations linked to the United States and the Israeli regime since the start of the US-Israeli aggression on Iran on Saturday.
The statement said the number of missiles and drones and the success rate of the attacks had far outpaced records seen during the 12-day war with Israel and the US in June 2025.
The IRGC said recent “brutal and terrorist” attacks on Iran that targeted citizens in hospitals, schools, and offices of the national media service (IRIB) had further strengthened their resolve and determination to pursue an all-out war against the enemies.
The IRGC has been carrying out retaliatory attacks on US military assets across the region and on targets in the Israeli-occupied territories since Saturday, when the US and Israel started the unprovoked war of aggression against Iran and assassinated Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei.
The Islamic Revolution Guards Corps (IRGC) says the fate of Israeli prime minister Benjamin Netanyahu is uncertain following “purposeful and surprise” attacks on his office and the residence of the regime’s air force commander.
In a statement on Monday, the IRGC said Iranian Armed Forces heavily attacked the office of Israel’s criminal prime minister and the residence of commander of the Israeli air force.
They were hit during “purposeful and surprise” attacks by Kheybar missiles, the elite force stated.
According to the statement, the 10th phase of Iran’s successful missile attacks on occupied territories focuses on the Israeli regime’s premises.
The IRGC said it would later announce the achievements of the attacks and provide further information.
The United States and Israel launched a joint war of aggression against Iran early on Saturday, assassinating Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei and several senior military commanders before attacking military and civilian sites across the country.
Iranian armed forces have responded with massive missile and drone strikes, hitting strategic targets deep inside the Israeli-occupied territories as well as American military bases scattered across the region.
Iranian authorities say the retaliatory attacks will continue as long as necessary and that it will be the Islamic Republic that will decide when and how the war will end.
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