Elon Musk announced over the weekend that he is forming a new political party — the America Party — as tensions escalate between him and President Donald Trump over the controversial “Big Beautiful Bill.”
“Today, the America Party is formed to give you back your freedom,” Musk declared Saturday in a post on X, the social media platform he owns. The announcement followed weeks of criticism Musk has directed at Trump’s spending bill, which the president signed into law on July 4 and which Musk has slammed as “debt slavery.”
Musk, once a vocal supporter of Trump’s 2024 reelection campaign, has since broken ranks, blasting the legislation as a “pork-filled” monstrosity that could balloon the national debt by over $3 trillion. The rift has become increasingly personal and public.
On Sunday, Trump fired back on Truth Social, mocking Musk’s third-party ambitions. “He’s gone completely off the rails,” Trump wrote. “He wants to start a third political party — despite the fact they’ve never worked in America. He’s just angry because the bill cut EV incentives.”
Musk Eyes Congressional Power, Not the White House — Yet
Musk has said that the America Party’s immediate goal isn’t the presidency, but to win a handful of key seats in Congress that could serve as swing votes in an increasingly gridlocked Washington.
“With razor-thin margins in Congress, just a few America Party wins could block extreme legislation,” he posted on Sunday. He added that the party may consider backing a presidential candidate later but, “for the next 12 months, it’s all about the House and the Senate.”
Billionaire Support — and Warnings
Fellow billionaire Mark Cuban signaled support for the idea, responding to Musk’s launch with celebratory emojis and offering help from the group @voterchoice, which helps third-party candidates gain ballot access. Former Trump aide Anthony Scaramucci also chimed in: “I’d like to meet to discuss. My DMs are open.”
But not everyone was impressed.
Treasury Secretary Scott Bessent told CNN that the boards of Musk’s companies, like Tesla and SpaceX, would prefer he step back from politics. “The principles of DOGE were popular. Elon? Not so much,” Bessent said, referencing the White House’s now-defunct budget-cutting task force Musk briefly led.
Musk hit back on X, claiming Trump had once relied on his popularity. “The polling for me was very positive a year ago, which is why Trump used me so much,” Musk said.
Polls, however, suggest his star is fading. Economist/YouGov surveys show Musk’s favorability has plunged from nearly 50% last November to just 35% last month.
A Movement Against the Two-Party System?
The America Party announcement came just after Musk posted a July 4th poll asking X users if they wanted “independence” from the two-party system. Of the 1.25 million responses, 65% voted “Yes.”
The timing was no coincidence — Trump signed the spending bill that same day.
The feud between the two men has even led Trump to float the idea of reviewing Musk’s immigration status. Born in South Africa, Musk became a naturalized U.S. citizen in 2002. Trump’s comments have raised eyebrows, with critics calling it a dangerous escalation.
Neither Musk nor the White House has responded to requests for comment.
Political Distraction or Strategic Play?
Some on Wall Street are growing uneasy. Tesla stock was recently downgraded by Baird analysts, who cited “increased uncertainty” stemming from Musk’s political fights. Tesla supporter Dan Ives warned Musk to “get refocused” or risk damaging the company’s long-term prospects.
As Musk juggles corporate responsibilities and a budding political movement, his attempt to shake up the American political landscape could prove either visionary — or volatile.
For now, the America Party is just getting started. Whether it gains real momentum — or fizzles like third parties of the past — remains to be seen.
