Elon Musk announces he is creating a new political party.

Elon Musk announces the creation of a new political party, just weeks after a significant disagreement with US President Donald Trump. The billionaire revealed on his social media platform X that he had established the America Party, presenting it as a challenge to the two-party system of Republicans and Democrats.

Nonetheless, it remains uncertain whether the party has officially registered with U.S. election officials. Musk, having been born outside the US, cannot run for the presidency and does not reveal who will take the lead. He initially suggested the idea of creating a party during his public conflict with Trump, which led him to resign from his position in the administration and partake in a brutal public clash with his former associate.

During that row, Musk posted a poll on X asking users if there should be a new political party in the US.

Referencing that poll in his post on Saturday, Musk wrote: “By a factor of 2 to 1, you want a new political party and you shall have it!

“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.”

As of Saturday, the Federal Electoral Commission had not released documents showing the party’s formal registration. Though there have been prominent figures outside the conventional two-party framework in US politics, it remains challenging for them to achieve sufficient national appeal to become a genuine threat.

During last year’s presidential election, candidates from the Libertarian Party, Green Party, and People’s Party all unsuccessfully attempted to prevent either Trump or his Democratic opponent, Kamala Harris, from emerging victorious.

Until recently, Musk was a key ally of Trump, participating in campaign events with him last year and taking his four-year-old son to visit Trump in the Oval Office. Musk was a crucial financial supporter for Trump: he invested $250m (£187m) to assist him in returning to power. Following the election, he was selected to head the newly established Department of Government Efficiency (Doge), responsible for pinpointing significant reductions in the federal budget.

His rift with Trump started when he departed from the administration in May and openly condemned Trump’s tax and spending proposals. The law – which Trump referred to as his “big, beautiful bill” – was closely approved by Congress and enacted by the president this week.

The extensive legislation encompasses significant spending obligations and tax reductions, and is projected to increase the US deficit by over $3 trillion in the next ten years.

Importantly for Musk, the owner of electric vehicle titan Tesla, Trump’s legislation does not prioritize green transitions or financial aid for products such as Teslas. Trump hinted at having Doge explore subsidies supporting Musk’s ventures, referencing the billionaire’s other enterprises as well. Musk also possesses SpaceX, which sends rockets for the US government, and Starlink, which offers satellite services for US and European military forces.