Billionaire Tesla owner Elon Musk, has disclosed that he is forming a third political party, which he called the ‘America Party,’ after a dramatic falling out with Donald Trump over a tax and spending bill recently signed into law by the President. 

Musk, who was the largest individual donor to Trump’s 2024 presidential campaign, worked with the current US President as the lead of his cost-cutting government agency—the Department of Government Efficiency (DOGE)—until his recent resignation. 

After bowing out of the DOGE role, Tribune Online reports that Musk started criticizing Trump’s “big beautiful bill” because of estimates that he said would add trillions of dollars to the federal deficit.

Speaking via his X social media platform, Musk said, “When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy.”

Musk, a former ‘first buddy’ of the US President, declared that the new party is for freedom: “Today, the America Party is formed to give you back your freedom.”

Meanwhile, Musk’s rift with President Trump last month after intense criticism of the spending bill appeared to have cooled after Musk regretted and deleted the most incendiary posts he made linking Trump with disgraced financier Jeffrey Epstein and calling for the President’s impeachment. According to Musk, those posts ‘went too far.’

However, the world’s richest man reignited the feud over the last several days as the bill neared passage and eventually passed by the House before it was subsequently signed at a White House ceremony.

According to CNN, the extent to which Musk has taken steps to legally form the party is unclear, as party formation requires registering with the Federal Election Commission. The most recent FEC filings showed no indication that this has happened, CNN reports. 

The owner of X, who has made threats during the social media scuffle with Trump, had indicated he wants a party that is fiscally conservative and reins in spending, but has offered few other details about what the party’s platform would be.

While Musk and Trump reportedly share similar views on contemporary social issues, the former has argued the Republican policy agenda will increase the debt, calling it “debt slavery.” 

The two-party system in the United States has long been criticized by both registered Democrats and registered Republicans, but efforts in the last century to form a third party have shown little success. Billionaire Ross Perot ran for president as an independent in 1992, winning nearly a fifth of the popular vote, but carried no states in the election, which was won by Bill Clinton.

NIGERIAN TRIBUNE