Elon Musk's plan to launch the America Party has been shelved for now, as the tech billionaire focuses on businesses and maintaining ties to VP JD Vance, according to The Wall Street Journal.

Under the Constitution, Trump cannot run for a third presidential term. Previous polling has shown Vance as the clear GOP primary front-runner; though a new poll suggests Vance could lose to Democratic favorites Gavin Newsom or Pete Buttigieg.

Elon Musk is reversing course on his plans to form a third political party and is telling associates to instead focus on his companies, according to a new report citing sources who said Musk is considering financially backing Vice President JD Vance if he decides to run for president in 2028.