The Latest Breaking News on Tesla Stock Tanks Over 7% After Elon Musk Announces Plan to Form a New Political Party

Elon Musk doubled down on creating a new "America Party," which he first floated after Donald Trump supported the "big, beautiful bill" proposed by Republicans.

Tesla shares have dropped seven per cent following Musk’s America Party ‘launch’

The veteran Tesla bull says there is a "sense of exhaustion" from many investors that their CEO keeps heading down the political track.

A none-too-subtle threat to Trump!

COMMENT: If the ‘trainwreck’ Tesla boss goes through with launching the America Party – bankrolling a new presidential candidate with his almost limitless wealth – it would do more than just derail Trump’s second term, asks Sean O’Grady

The South African-born billionaire said over the weekend the party would fight what he described as a system “bankrupting our country with waste and graft.”

President Donald Trump has branded Elon Musk a "train wreck" after his former friend and advisor revealed he was starting his own political party.

Likelihood of Musk being deported rising fast.

Fall of 6.8% in early trading wipes $79bn off firm’s value as market frets CEO’s foray into politics will distract from role