(Reuters) -Billionaire Elon Musk is quietly putting the brakes on plans to start his new political party, telling allies he wants to focus on his companies, the Wall Street Journal said on Tuesday, citing people with knowledge of the plans.

Musk, without commenting further on the report, said in an X post: "Nothing @WSJ says should ever be thought of as true".

Musk, the world's richest man, unveiled the 'America Party' in July after a public dispute with President Donald Trump on the tax cut and spending bill.

He has recently been focused in part on maintaining ties with Vice President JD Vance, the paper said, and has acknowledged to associates that forming a political party would damage his relationship with Vance.

Musk, the world's richest man, and his associates have told people cl

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