New York, Jul 6 (PTI) US tech billionaire Elon Musk said he has formed a new political party to give Americans their freedom back, after a dramatic falling out with Donald Trump.
He announced his plans on his social media platform X that he had set up the 鈥楢merica Party鈥 to challenge the two-party system in the country.
鈥淭oday, the America Party is formed to give you back your freedom,鈥 Musk said in a post on X.
鈥淲hen it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,鈥 the Tesla and SpaceX CEO said.
Musk did not say where the party may be registered. To legally form the party would require it to register with the Federal Election Commission (FEC).
The most recent FEC filings showed no indication that has happened, CNN said.
Musk first raised the prospect of forming a party during his public feud with Trump, which saw him leave his role in the administration鈥檚 Department of Government Efficiency (DOGE) and engage in a vicious public spat with his former ally.
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: 鈥淏y a factor of 2 to 1, you want a new political party and you shall have it! Musk, the largest individual donor to Trump鈥檚 2024 presidential campaign, was a close adviser to Trump until recently.
Musk, who spearheaded the Trump administration鈥檚 push to cut government waste, had criticised Trump鈥檚 鈥渂ig beautiful鈥 tax and spending bill because of estimates that it would add trillions of dollars to the federal deficit.
The legislation was narrowly passed by Congress and signed into law by the president this week.
Musk鈥檚 criticism of the bill was the catalyst for a major falling out between the two men last month. The world鈥檚 richest man has indicated he wants a party that is fiscally conservative and reins in spending, but has offered few other details about what the party鈥檚 platform would be.
The two-party system in the United States has long been criticised by both registered Democrats and registered Republicans, but efforts in the last century to form a third party have shown little success.
Musk said in other posts to social media this week that his party would become an active political force during next year鈥檚 midterm elections and that it would initially focus on supporting candidates in just a handful of House and Senate races.
Trump, in turn, has made threats against Musk and said earlier this week the government may reconsider its massive contracts with Musk鈥檚 companies.
Trump also described the Department of Government Efficiency, which the billionaire previously helmed, as a monster that may 鈥済o back and eat Elon.鈥 PTI NSA NSA NSA