Treasury Secretary Scott Bessent delivered some bad news to Elon Musk after the world’s richest man announced the formation of a new political party yesterday.
As The Gateway Pundit’s Cassandra MacDonald reported, a bitter Musk spent his Independence Day doubling down on his threat to form a new political party, dubbed the “America Party.” In an X post, he claimed he wants to disrupt the two-party system by creating a party for the “80% in the middle” who feel abandoned by Democrats and Republicans.
In subsequent posts about his plans, Musk wrote, “One way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts.” Given the fact that third-party candidates cost the GOP two Senate seats (Wisconsin and Michigan) last fall and the fact that Musk’s fans lean right, this amounts to effective sabotage.
Nevertheless, Musk officially formed the “America Party” Saturday afternoon. What a disgraceful betrayal.
Bessent was asked about Musk’s move toward the end of his interview with CNN’s Dana Bash and calmly delivered a reality check the X owner would not like to hear.
WATCH:
Holy SMOKES: Scott Bessent with a message for Elon Musk…
“The principles of DOGE were very popular. If you looked at the polling, Elon was NOT.”
“Those Board of Directors did not like this announcement [of a new party] yesterday.”pic.twitter.com/riAVdIdyMO
— Eric Daugherty (@EricLDaugh) July 6, 2025
BASH: He (Musk) announced this weekend that he is starting a new political party. Does this worry the Trump Administration?
BESSENT: Look, the principles of DOGE were popular. If you looked at the polling, Elon was not. The Boards of Directors at his various companies wanted him to come back and run his companies, which he is better at than anyone.
So, I imagine those Board of Directors did not like this announcement yesterday and will be encouraging him to focus on his business activities, not his political activities
In other words, Bessent is telling Musk that not only has his ego gotten too big, but that he is also an amateur at the political game. This will likely tick Musk off to no end
Bessent’s point is further buttressed by the fact that Musk has already suffered a significant blow. Azoria, a prominent investment firm, had planned to debut the Tesla Convexity ETF next week, but has now pulled its support indefinitely following Musk’s new political foray.
The Azoria Tesla Convexity ETF would have offered investors a strategic vehicle for exposure to Tesla’s high-growth potential. What a missed opportunity.
BREAKING: Major investment firm WITHDRAWS support from Tesla and POSTPONES Tesla Convexity ETF, citing Elon Musk’s launch of the America Party.
“This undermines shareholder confidence. If Elon won’t focus, the Board must act.” https://t.co/zhcBpRzWrp pic.twitter.com/ugj7RPACPU
— Le Bark News (@LeBarkNews) July 6, 2025
The post WATCH: Treasury Secretary Scott Bessent Delivers a Brutal Reality Check to Elon Musk as Tesla CEO Looks to Sabotage GOP with Formation of New Political Party appeared first on The Gateway Pundit.