America Party: Musk says he is forming a new political party as a result of his disagreement with Trump.

 The entrepreneur Elon Musk declared on Saturday that he is starting a third political party following a spectacular altercation with Donald Trump. He added that if the president's domestic policy package is signed into law, he will carry out his threats.

"We live in a one-party system, not a democracy, when it comes to bankrupting our country with waste & graft," Trump's former "first buddy" said on his social media platform, X. "The America Party was created today to restore your freedom."

Trump's "big beautiful bill" was criticized by Musk, the largest individual contributor to his 2024 campaign and, until recently, a close advisor to the president who spearheaded his administration's effort to cut government waste, because it was predicted to increase the federal deficit by trillions of dollars. Musk's criticism of the law last month caused a noticeable gap between the two men. The battle seemed to have died down after Musk apologized and removed his most insulting tweets against Trump from social media, but it reappeared in the last days as the legislation was nearing passage. Trump signed the bill into law on Friday.

It is unclear how far along he is in the process, but Musk might need to register the party with the Federal Election Commission. According to the latest FEC reports, that has not happened.