The world’s richest man, Elon Musk, has threatened to sponsor the formation of a new party in the United States to challenge the two dominant parties.

The Democratic Party and the Republican Party have dominated US elections for decades and have produced almost all American presidents.

Mr Musk spoke in continuation of his opposition to the current US President Donald Trump’s economic bill, which has already passed in the House of Representatives.

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

Messrs Musk and Trump were allies and the billionaire contributed financially to the president’s election and those of other Republican candidates.

However, their relationship went south a few weeks ago, partly due to Mr Trump’s economic bill.

The bill, now in the Republican-controlled Senate, is strongly opposed by Democratic lawmakers who argue that it will provide tax cuts for the super rich, cut healthcare and Medicaid for over one million poor Americans and slash school feeding for millions of children from poor homes.

Mr Musk, however, opposes the bill because, he says, it would increase the US debt ceiling by about five trillions dollars.

In his series of late Monday posts attacking the bill, Mr Musk also vowed to sponsor challengers to Republican lawmakers who support the bill.

He, however, gave no indication of supporting Democratic lawmakers, weeks after President Trump vowed to go after his interests if he finances the Democratic party.

More details later…