US Treasury Secretary Urges Musk to Drop Politics Focus on Business

Elon Musk's announcement of the formation of the America Party, aimed at challenging Republicans who supported President Donald Trump's recent tax and spending bill, has generated significant backlash from political and business leaders. Treasury Secretary Scott Bessent, a Trump appointee, urged Musk to focus on running his companies Tesla and SpaceX rather than engaging in politics, suggesting that the boards of these companies are also likely displeased with his political ambitions. Bessent noted that while Musk's government efficiency initiative, DOGE, had popular principles, Musk himself was not broadly favored in polling. Investment firm Azoria Partners delayed the launch of a Tesla-related fund, citing conflicts between Musk's political activities and his responsibilities as CEO. The tension between Musk and President Trump intensified after Musk criticized the tax and spending bill, which Trump signed into law, accusing it of bankrupting the country and removing green-energy credits crucial to Tesla. Trump has retaliated by threatening to withdraw federal contracts and subsidies from Musk's companies, deepening the personal and political fallout between the two.