Elon Musk, one of the world’s richest individuals and CEO of electric car manufacturer Tesla as well as head of SpaceX, has announced the formation of a new political party. He stated that he is creating a new political party in the United States.
A few weeks after becoming embroiled in a public dispute with US President Donald Trump, this influential billionaire made the announcement. This information was reported on Sunday (6 July) by British media outlet BBC.
In a post on his own social media platform X on Saturday, Musk revealed that the name of his new party is the “America Party,” which will serve as an alternative to the US’s traditional two-party system of the Republican and Democratic parties.
However, it is still unclear whether the party has been officially registered with the US Election Commission. Musk himself has not provided any details about the party’s leadership or organizational structure.
He said, “We are effectively living under a one-party rule, where waste and corruption are bankrupting the country. Today, the ‘America Party’ is formed, aiming to return your freedom.”
Musk reportedly began considering forming a new party after his relationship with Trump deteriorated. According to the BBC, Musk harshly criticized Trump’s budget plans after leaving the administration, and it was then that he first hinted at the possibility of launching a new party.
During his dispute with Trump, Musk conducted a public opinion poll on X, asking users whether a new political party was needed in the US. In Saturday’s announcement, Musk referred to the poll results, writing, “By a margin of 2:1, people want a new political party. And they are going to get it.”
During the 2024 presidential election, Musk was a key supporter of Trump. He spent nearly $250 million to help Trump get re-elected. After the election, Musk was appointed head of a new US government department — the Department of Government Efficiency (DOGE) — tasked with identifying major budget cuts.
However, in May, Musk resigned from the administration and began criticizing Trump’s tax and spending plans. Trump referred to that plan as the “Big Beautiful Bill,” which was recently passed in Congress by a narrow margin and signed by Trump.
The massive bill promises billions in spending and tax cuts, which are estimated to increase the US deficit by nearly $3 trillion over the next decade.
