Billionaire Elon Musk is reportedly eyeing to back Vice President JD Vance in the 2028 presidential election months after vowing to launch a third party.

Musk is reportedly monitoring a potential campaign for Vance, who is widely presumed to take over as the leader of the MAGA movement following the completion of President Donald Trump's second term in office, having teased the launch of an "America Party" on his X account in July. Several polls have Vance as the overwhelming favorite to land the Republican nomination in 2028.

Earlier this month, Vance said Musk made a "mistake" in his fallout with Trump but hoped he could find his way back into the White House before the 2026 midterm elections.

“I don’t know that he would take my call right now,” Vance said of Musk's “complicated relationship” with the White House during an interview with The Gateway Pundit (h/t the New York Post).

“I kid,” he added. “I’m sure he would take my call, but honestly, the drama around him and the White House over the last couple of months… my hope is that it just kinda cools down a bit.”

“If you’re patriotic, you’re not trying to sink your knife in the back of the president, you’re not trying to betray the movement, I don’t care about these, like, minor, little disagreements,” Vance continued, adding that he is “pretty big tent about this stuff.”

The vice president also claimed that Musk was in a tough situation following his public fallout with Trump.

“My argument to Elon is like, you’re not going to be on the left … even if you wanted to be — and he doesn’t — they’re not going to have you back, that ship has sailed,” Vance said. “I really think it’s a mistake for him to try to break from the president.”

“My hope is, by the midterms, things are kind of back to normal,” he added.

Musk's fallout with Trump stemmed from his disagreement with the president's 'One Big Beautiful Bill Act,' which passed on July 3. The Tesla CEO responded "Me" to another X user's post claiming they donated to re-election campaign of Rep. Thomas Massie, one of Trump's biggest Republican foes, and asked "Who's next?" on July 1.

Musk's post on X was shared less than an hour after Trump threatened to use his brainchild, the Department of Government Efficiency (DOGE), against him and warned that it could result in the billionaire having "to close up shop and head back home to South Africa."

The posts followed other incidents in the fallout between Trump and Musk, who was one of his biggest supporters and financial donors during his reelection campaign. Musk issued an apparent public apology to Trump last month, claiming he "went too far" in some of his viral posts directed at the president.

The billionaire's temporary change of heart came after Trump publicly wished him well -- "very well, actually" and Musk responded with a heart emoji. The Tesla CEO didn't specify which posts he specifically regretted, though he specifically deleted one suggesting that Trump should be impeached and another accusing the president of being in the Jeffrey Epstein files.

"Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!" Musk wrote.

Musk's claim came shortly after Trump addressed their recent split amid their disagreement over the 'One Big, Beautiful Bill Act.'

"Look, Elon and I had a great relationship. I don't know if we will anymore," Trump told reporters via ABC News.

Musk, who previously led Trump's newly launched Department of Government Efficiency, responded in a post shared on his X account claiming Trump was showing "such ingratitude" after he spent more than $270 million backing his presidential campaign in 2024.