Elon Musk has announced the formation of a new political party, “The America Party,” following a dramatic fallout with former ally President Donald Trump.
The billionaire made the declaration on his platform X on Saturday, accusing both major political parties of fostering corruption and fiscal irresponsibility.
“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,” Musk wrote.
“Today, the America Party is formed to give you back your freedom.”
Musk, who was once Trump’s largest individual donor and a key figure behind the administration’s cost-cutting agenda, had sharply criticized the president’s newly signed domestic policy bill, claiming it would balloon the national deficit.
Though the rift appeared to calm briefly last month after Musk deleted critical posts, tensions reignited as the bill advanced through Congress.
Trump officially signed it into law on Friday, prompting Musk to escalate his discontent into political action.
In response, Trump dismissed Musk’s new party as “ridiculous” and warned it would only create division.
“We have a tremendous success with the Republican Party… starting a third party just adds to confusion,” the president said on Sunday before departing New Jersey.
Despite the skepticism, Musk hinted that the America Party would field candidates in select House and Senate races during the upcoming midterm elections, although legal filings with the Federal Election Commission are yet to confirm its formal registration.
