JUST IN: Elon Musk Announces Decision On New Political Party

Tech billionaire Elon Musk announced Saturday that he will be forming a new political party following his falling out with President Donald Trump over his opposition to the Big Beautiful Bill.

Musk has been threatening to start a third party, which he intends to name the “America Party,” over his opposition to the bill. The tech billionaire has claimed that his concerns are rooted in tackling the national debt, while President Trump has pushed back by asserting that the SpaceX and Tesla owner is upset about the loss of Biden-era green energy subsides that greatly benefited his companies.

The spat between Musk and the president peaked last month when the tech billionaire baselessly accused Trump of being on the Jeffrey Epstein list, a post he has since deleted. After a few days of calm, Musk reignited talk over a third party last week as the bill neared passage.

“If this insane spending bill passes, the America Party will be formed the next day,” Musk posted on June 30. “Our country needs an alternative to the Democrat-Republican uniparty so that the people actually have a VOICE.”

On July 4, the day the Big Beautiful Bill was signed into law, Musk posted a yes-or-no poll asking X users whether they would support a third party. “Independence Day is the perfect time to ask if you want independence from the two-party (some would say uniparty) system!” he wrote before posing the question.

Just over 1,200,000 people voted in the survey, 64 percent of whom voted in favor of forming the new party. It should be noted that the poll was open to the entire world, while roughly 20 percent of the platform’s user base is in the United States.

On Saturday, the tech billionaire formally announced that he will be forming the new party. “By a factor of 2 to 1, you want a new political party and you shall have it!” Musk wrote. “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.”

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. https://t.co/9K8AD04QQN

— Elon Musk (@elonmusk) July 5, 2025

Musk has hinted that he will strategically target a handful of Senate and House races in order to give his new party a foothold. “One way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts,” he said.

“Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people.”

While third parties have failed to gain any serious national traction over the past several decades, third party candidates have managed to play spoiler on numerous occasions. In what could be a similar comparison, tech billionaire Ross Perot’s independent campaign has been widely credited with delivering the presidency to Bill Clinton, though others have downplayed the impact of his candidacy.