Elon Musk has quietly shelved plans to launch a third U.S. political party, dubbed the America Party, according to a Wall Street Journal report that cites people familiar with the matter. The paper says the billionaire announced in July that he would unveil the party this summer but has since shifted focus to his companies and to maintaining ties with influential Republicans, notably Vice President JD Vance. Musk is weighing supporting Vance if the vice president pursues a 2028 presidential bid. Musk fears a formal break from the GOP could alienate allies whose backing benefits his ventures, which range from electric-vehicle maker Tesla to rocket company SpaceX, the Journal added. No new timetable has been set for reviving the America Party initiative.