Billionaire entrepreneur Elon Musk revealed on Saturday that he intends to establish a new political party.
On his social media platform, X, Musk stated, “If it’s 2-1x, you’ll need a new political party and you’ll have it!” He was referring to the online voting mechanism he introduced just a day prior.
“We currently live in a system dominated by one party, not true democracy. Today, the American Party is being formed to bring your freedom back,” he asserted, emphasizing frustrations over government waste and corruption.
Details on how Musk plans to create the American Party are unclear. Forming a new political party in the U.S. is complex, with varying regulations across states. Legal hurdles may arise as he moves forward.
Musk’s supporters seem enthusiastic, particularly after he declared on Friday, “Independence Day is the perfect time to ask if you want to be independent of the two-party system!” Among his 1.2 million followers, 65.4% voted in favor of establishing the “American Party,” while 34.6% opposed it.
Previously, Musk openly critiqued Trump and the legislative agenda for his second term, labeling it “filled with pork” and “nasty hatred.” His concerns reflect a broader anxiety among Tesla and SpaceX stakeholders regarding how the proposed law would affect the national deficit, estimating a potential increase of around $3.9 trillion over the next ten years.
Interestingly, Musk had previously invested heavily in Trump’s re-election campaign and was a key figure in the administration’s Department of Government Efficiency, which aimed to cut costs. This stance has drawn significant backlash, both personally and professionally.
This week, Trump warned that he might withdraw billions in federal subsidies. Musk mentioned he’s willing to allocate funds to support new political endeavors and to aid lawmakers who back his initiatives.
Republicans have voiced worries that Musk’s ongoing feud with Trump could jeopardize their ability to maintain a majority in the upcoming 2026 midterm elections.
