US Treasury Chief Calls Elon Musk a “Loser” on Live TV After Billionaire Launches His America Party

Treasury Secretary Calls Musk a “Loser” After Billionaire Unveils America Party

Treasury Secretary Scott Bessent didn’t hold back on live television, mocking Elon Musk’s latest political ambition just one day after the tech mogul announced the formation of his new third party.

Responding to questions about the billionaire’s newly registered America Party, Bessent declared,

"Most of America thinks he’s a loser. They will be encouraging him to focus on his business activities, not his political activities.”

The comment came as part of a broader dismissal of Musk’s influence in national politics, despite his prominent role in Donald Trump’s early second-term administration.

Speaking on CNN’s “State of the Union”, Bessent said while Musk’s former government project, the Department of Government Efficiency (DOGE), had popular goals, the man behind it did not.

“The principles of DOGE were very popular. I think, if you look at the polling, Elon was not.”

Tensions Boiled Over After Musk’s Cabinet Exit

Musk’s relationship with the Trump administration soured in May after he resigned from his special post leading DOGE.

The friction wasn’t new, but things escalated further following the passage of the controversial “One Big Beautiful Bill” — a sweeping tax and spending package that Musk openly opposed.

After Trump signed the bill into law on 4 July, Musk lashed out on X, accusing lawmakers of destroying DOGE’s work and ballooning the national deficit.

He claimed the legislation would blow a $3.9 trillion hole in the budget over the next decade.

“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom.”

What Sparked the Rift Between Musk and Trump?

Though Musk once operated as Trump’s unofficial moneyman during the 2024 election campaign, their partnership began to fray over policy differences.

Musk had reportedly pushed for his ally, Howard Lutnick, to be appointed Treasury Secretary — a bid Trump rejected, assigning Lutnick to the Commerce Department instead.

Scott Bessent got the top Treasury job instead, and Musk didn’t take the snub lightly.

Bannon later claimed on his podcast that things got physical between the two men.

In April, after a tense Oval Office meeting, Musk allegedly “body-checked” the Treasury Secretary, according to MAGA-aligned podcaster Steve Bannon.

While Bessent has not confirmed the incident, he has also declined to deny it.

Weeks later, during an episode of Pod Force One, the podcast made light of the incident, saying Musk “fancies himself more of a Viking,” while likening Bessent to a “ninja.”

Whether meant in jest or as metaphor, the characterisation added fuel to the already heated dynamic between the two.

Political Ambitions or Personal Agenda?

Some Republicans remain sceptical of Musk’s motives.

Insiders suggest his outrage over the megabill may be linked to the removal of Biden-era green energy subsidies — a move that hit Tesla’s bottom line.

Musk denies this, insisting the national debt is his primary concern.

His America Party, officially filed with the Federal Election Commission, claims to target only a handful of swing House and Senate races rather than building a full national coalition.

Musk says he’s drawing inspiration from Epaminondas, the ancient Greek general who won the Battle of Leuctra with concentrated force.

No candidates have been announced yet.

Will Musk Actually Run for Office?

Musk hasn’t said whether he plans to stand for election, but he has made it clear that reshaping Congress is now his main political goal.

His followers on X backed the idea in a poll days before he made it official.

For now, he appears focused on leveraging pressure rather than building alliances.

A Party of One or a Strategic Threat?

Musk's decision to challenge the political mainstream adds an unpredictable force into the 2026 election cycle.

Whether his strategy is disruption or delusion, one thing is clear — this is personal.

For Bessent and Trump’s circle, Musk's rebellion may be less about ideology and more about control.

But as Musk continues to mix military metaphors with policy plans, he’s forcing both parties to keep one eye on his next move.