WASHINGTON — Billionaire entrepreneur Elon Musk is reportedly stepping back from his ambitions to launch a new political group, the so-called “America Party,” according to a Wall Street Journal report. Sources told the paper that Musk wants to avoid fracturing Republican support and instead focus on his companies.

The report also claimed Musk may consider backing Vice President JD Vance in a potential 2028 presidential run, after having spent nearly $300 million supporting Donald Trump’s 2024 campaign.

But Vance quickly pushed back. Speaking Wednesday, the vice president dismissed the story as “completely fake.”

“I’ve never talked with Elon Musk or, frankly, any other donor about 2028,” Vance said.

The conflicting reports underscore the uncertainty around Musk’s political role moving forward, as the billionaire continues to wield significant influence both in business and U.S. politics.