Elon Musk announced the formation of a new political party, the "America Party," following disagreements with President Trump over a spending bill. Trump criticized Musk's new party, calling it a potential source of disruption and chaos. Musk opposed the ...

July 7–8, 2025: The first trading day since Musk’s weekend announcement, Tesla shares tumbled, and Musk’s personal fortune dropped by as much as $15 billion, according to the Bloomberg Billionaires Index. As of July 9, it stands at $349 billion with Tesla shares broadly unchanged.

“It is about time that the common sense man and the business man and the farmers and bankers of this country get together and formed a third political party,” William H. Woodin, the industrialist and future Treasury Secretary, told The Wall Street Journal on April 6, 1922.

A new poll found the likelihood of an America Party candidate winning an election is slim. It could, however, draw votes away from Republican candidates, hurting their chances as well.

LinkedIn cofounder and top Democratic donor Reid Hoffman said he's "very sympathetic" to Musk's core cause of reining in deficits.

The world’s greatest innovator has set his sights on America’s biggest problem: the two-party system that is ripping our social fabric, bankrupting