Musk made the declaration on Saturday, a day after asking his followers on X whether a new political party should be created.

“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.”

Musk’s desire to “reform” the American political system began brimming after his fallout with President Donald Trump over the contentious “Big Beautiful Bill”.

Trump eventually signed the bill Friday afternoon after it passed both chambers of the congress.

The bill includes tax cuts, spending boosts for defence, and an immigration crackdown.

But to pay for the tax cuts and the spending, the bill includes cuts to critical social services, including medicaid, a government health insurance programme for low-income households.

Trump said Musk contested the bill because it affected an electric vehicle (EV) mandate that could affect the sales of electric cars.

But the Tesla chief executive officer (CEO) dismissed the claims.

During his final days as Trump’s adviser, Musk said he was disappointed with the bill.

His comments triggered a public exchange of words with the president on social media.

Musk said the US president showed ingratitude, given that without his help, “Trump would have lost the election”.

The president warned that there would be “serious consequences” if Musk funded Democratic candidates to run against Republicans who would vote in favour of the legislation.

As the US senate debated Trump’s contentious “Big, Beautiful Bill” on Monday before a final vote, Musk threatened that those in favour of the proposal would lose their primary next year.