(CNN) — Elon Musk on Wednesday pushed back against a report that he’s dropping plans to form a new political party after he grew angry with President Donald Trump’s domestic policy bill.

The Wall Street Journal reported that the richest man in the world has told associates he fears founding a new party would damage his relationship with Vice President JD Vance, who’s seen as a top contender for the 2028 presidential election.

“Nothing @WSJ says should ever be thought of as true,” Musk posted overnight on his social media platform X, in response to a user who cited the Journal’s reporting.

But despite Musk’s social media response, he appears to have taken few concrete steps toward creating a new party. Even with Musk’s wealth and power, starting a new party would carry political risks

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