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U.S. President Donald Trump said Friday that Elon Musk had "lost his mind" and indicated he has no plans to speak with the billionaire, while Musk floated the idea of launching a new political party following their public falling out.
Trump made the comments about his former ally during interviews with US broadcasters, saying he was "not particularly" interested in talking to the Tesla CEO. When asked about Musk during a call with ABC, Trump responded, "You mean the man who has lost his mind?"
Speaking to reporters aboard Air Force One Friday evening, Trump said he had no plans to reach out to Musk.
"No, I don't have any plans," Trump told reporters when asked if he planned to contact his former adviser. "I'm not thinking about Elon. You know, I just wish him well."
The president said categorically that he is "not really interested" in efforts to mend ties with the billionaire.
Trump also told Fox News that Musk had "lost it" and added, "I don't even bring Elon to mind. He has a problem. The poor man has a problem."
White House officials confirmed that Trump had scrapped the idea of a call with Musk. "The president does not intend to speak to Musk today," a senior White House official said, adding that Musk had requested a call.
Amid the ongoing tensions, Musk posted a poll on his X social media platform asking his 220 million followers whether it is "time to create a new political party in America that actually represents the 80% in the middle."
The poll resulted in 80.4% of respondents supporting the idea, while 19.6% voted "no." Musk commented on the results Friday evening, saying, "This is fate."
"People have spoken. A new political party is needed in America that represents the 80% in the middle. And exactly 80% of people agree. This is fate," Musk stated.
Musk later backed a supporter's suggestion to name the new party the "America Party," similar to America PAC, which he launched last year and spent $239 million supporting Trump and other Republicans in the 2024 elections.
The public break-up between the world's richest person and the president began after Musk criticized Trump's spending bill as an "abomination" on Tuesday.
Trump responded Thursday with an Oval Office statement saying he was "very disappointed" by the entrepreneur.
The dispute escalated when Musk accused Trump without evidence of being in government files on disgraced financier Jeffrey Epstein, claiming that was why the files had not been released. Musk also claimed that Trump won the 2024 election thanks to his support.
Trump hit back by threatening to cancel Musk's multi-billion-dollar SpaceX rocket and satellite contracts. However, Trump struck a milder tone Friday when asked about cutting Musk's contracts, saying: "It's a lot of money, it's a lot of subsidy, so we'll take a look—only if it's fair. Only if it's to be fair for him and the country."
Trump is considering either selling or giving away the red Tesla Model S that he purchased from Musk's company in March.
"He's thinking about it, yes," a senior White House official said when asked if Trump would sell or give away the vehicle.
The car was still parked on White House grounds Friday. Trump and Musk had posed inside the car at an event in March when the president turned the White House into a Tesla showroom.
Tesla stocks dropped more than 14% on Thursday amid the feud, losing approximately $100 billion of the company's market value, but partially recovered on Friday.
Just a week ago, Trump gave Musk a positive send-off as he left his cost-cutting role at the Department of Government Efficiency (DOGE) after four months.
The speed at which their relationship deteriorated stunned Washington observers.
Launching a new political party in the U.S. faces major challenges, as any new party aiming to compete must overcome complex, state-specific requirements to get candidates listed on ballots. Democrats, Republicans, and some established third parties already enjoy widespread ballot access.
Musk appeared to consider a post suggesting reforming one of the major parties "from the inside out" rather than founding a third party, replying with "Hmm."
Musk's wealth allowed him to be the biggest donor to Trump's 2024 campaign, contributing nearly $300 million.
Any further support for the 2026 midterm elections now appears uncertain.
Trump's spending bill faces a difficult path through Congress as it will raise the US deficit, while critics say it will cut healthcare for millions of Americans. The legislation aims to implement the tax cuts Trump promised during his election campaign.
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