WSJ Tech News Briefing

TNB Tech Minute: Musk Says He’s Forming ‘America Party’

9 snips
Jul 7, 2025
Elon Musk is stirring the political pot with his announcement of the America Party, raising eyebrows about the intersection of politics and business. Oracle has decided to offer discounted cloud services to the U.S. government, a move that could significantly impact federal tech spending. Meanwhile, LG Electronics forecasts a sharp decline in profits due to rising tariffs, signaling challenges in the global market. Dive into these intriguing developments and their broader implications.
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INSIGHT

Elon Musk's Bold Move to Create the America Party Shakes Up Politics

Tesla CEO Elon Musk announced he's forming a new political entity called the America Party, sparking renewed tensions with former President Donald Trump. Despite this high-profile declaration, Musk and his team have not yet filed any official paperwork with the Federal Election Commission.

The announcement has raised eyebrows among Trump's allies who question how Musk can balance this political endeavor with his full-time role at Tesla. Markets reacted immediately, with Tesla shares dropping in early trading following the news.

Trump dismissed the new party as potentially confusing and "ridiculous," suggesting Musk is simply "having fun" with the idea. This political development could mark a significant shift in Musk's public engagement outside of technology and business.

INSIGHT

Musk Forms New 'America Party'

  • Elon Musk announced he is forming a new political party called the America Party.
  • This move reignited tensions between Musk and former President Trump, reflecting political divisions.
INSIGHT

Oracle Gives Government Deep Discount

  • Oracle is offering a 75% discount on cloud services and software to the U.S. federal government through November.
  • This is part of a broader government push to negotiate cost savings with major tech contractors.
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