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Billionaire Elon Musk announced Saturday that he is founding a new political party, citing deep frustration with both major parties and his sharp break with President Donald Trump over a multitrillion-dollar domestic spending bill that Musk says will plunge the nation into “debt slavery.”
“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,” Musk posted on his platform X. “Today, the America Party is formed to give you back your freedom.”
The surprise announcement comes just one day after Trump signed the sweeping ‘One Big Beautiful Bill’ into law, which extends his 2017 tax cuts while slashing Medicaid, food aid, and clean energy investments — and is projected to add $3.3 trillion to the national debt over the next decade, according to the Congressional Budget Office.
Trump-Musk Relationship Implodes
Musk, formerly the largest individual donor to Trump’s 2024 campaign and one of his most visible advisers, had served as the public face of the Department of Government Efficiency, a Trump-created agency tasked with rooting out waste. But relations between the two soured rapidly in recent weeks, culminating in what Musk now describes as a “turning point” over the president’s domestic policy bill.
Although Musk briefly walked back some of his criticisms and deleted a series of pointed posts targeting Trump, tensions reignited as Congress moved to finalize the legislation.
Trump, in turn, lashed out at Musk, saying his administration may reevaluate billions in government contracts with SpaceX and Tesla. The president even joked during a recent campaign stop that the Department of Government Efficiency might “go back and eat Elon.”
America Party: Platform Still Developing
While Musk’s new America Party is still in its infancy, his public comments indicate it will advocate for fiscal conservatism, balanced budgets, and technology-forward governance, while likely retaining the socially conservative outlook he shares with Trump on issues such as immigration and education.
Musk has not yet filed any formal paperwork with the Federal Election Commission (FEC) to establish the party, and no new PACs or party committees have been reported as of Saturday. Experts say creating a viable third party in the U.S. is both legally complex and historically unsuccessful.
Still, Musk suggested on X that the party will begin its political activity during the 2026 midterm elections, starting with endorsements in “a few key House and Senate races.”
Historical and Political Context
The announcement immediately drew comparisons to billionaire Ross Perot’s 1992 presidential run, which captured 19% of the popular vote but no electoral votes. Since then, no third-party movement has seriously threatened the Democratic-Republican duopoly.
Political experts are skeptical Musk will have more success, despite his enormous financial resources and cultural influence.
“Musk has a global brand, unlimited money, and a direct channel to millions of followers,” said political analyst Sarah Binder. “But history has not been kind to third-party challengers — and he’ll need more than tweets and tech to change that.”
What Comes Next?
In recent days, Musk has dropped cryptic hints about his party’s ambitions, suggesting the America Party will serve as an “anti-corruption” watchdog, and has expressed interest in leveraging blockchain technology for secure voting systems.
He has also hinted at a possible presidential run in 2028, though he is constitutionally ineligible unless Congress amends the natural-born citizen clause — Musk was born in South Africa.
For now, the America Party remains more concept than campaign, but the announcement marks a stunning political turn for one of Trump’s most high-profile allies and throws another wildcard into an already volatile political landscape.
