Mr. Musk’s involvement in politics and his financial support for the president’s campaign were once seen by investors as a benefit to Tesla, fueling a steep rise in company shares after the election last year. That association has now turned into a liability. Tesla shares are down 40 percent from their peak in December.

The world's richest man's latest political activities prompted a brutal sell-off of Tesla stock as investors question his focus on the company.

Tesla stock price fell Monday after Musk said he's formed the America Party, the latest development in the billionaire's feud with President Trump.

The Tesla CEO says both parties have failed and claims The American Party will fight government bloat, attract disillusioned Democrats, and shake up the system.

Elon Musk says he has formed a new political party called the America Party. But it remains unclear what formal steps, if any, he has taken to establish it.

Musk said that Grok, his AI chatbot that praised Adolf Hitler and posted a barrage of antisemitic comments recently, will be in Tesla vehicles “next week.”