Elon Musk says he has set up a new political group - the 'America Party'
His announcement comes in the wake of his public falling out with Donald Trump.
On Friday, he asked social media users whether a new political party should be formed.
And on Saturday evening he wrote: 'By a factor of 2 to 1, you want a new political party and you shall have it! 'Today, the America Party is formed to give you back your freedom.'
Musk spent hundreds of millions supporting Trump in the 2024 presidential campaign and led his administration's department of government efficiency (DOGE).
But the two have since clashed over Trump's tax-cut and spending bill, with Musk lashing out at Republicans for backing it.
On Monday, he called the GOP 'the PORKY PIG PARTY!' for including a provision that would raise the nation's debt limit by $5 trillion and calling the bill 'political suicide' for Republicans.
Since their political alliance spectacularly imploded, the two have traded blistering insults.
Musk has called for Trump's impeachment, and only days ago, the president threatened to cut off the billions of dollars in subsidies that Musk's companies receive from the federal government.
The tech billionaire is the chief executive of Tesla, the nation's largest electric vehicle manufacturer, and SpaceX, which has massive defence contracts.
Last week, Trump posted on social media that Musk has long known of his opposition 'against the EV Mandate', which he called 'ridiculous'.
He wrote that without subsidies, the Tesla CEO 'would probably have to close up shop and head back home to South Africa'.
Trump suggested that 'Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!'
Later at the White House, he said: 'We might have to put DOGE on Elon.
'You know what DOGE is. DOGE is the monster that might have to go back and eat Elon.' More Trending
Several times, Musk has suggested that a new political party is needed to encapsulate the viewpoints he argues aren't represented by the GOP.
Starting a new national party — which would be set head-to-head with existing major parties — has been done before, but recent efforts in that vein have struggled to catch on.
Even without such an official effort, Musk's financial backing could be a factor in upcoming races, should he choose to contribute to candidates, either directly or through his PAC.
Republicans have expressed concern that Musk's on-again, off-again feud with Trump could hurt their chances to protect their majority in the 2026 midterm congressional elections.
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