Elon Musk has said that he's formed a new political party, but it's unclear what steps — if any — he's taken to do so, or how the effort might affect upcoming elections. Musk has not yet released any additional information.

President Trump slammed the tech billionaire's announcement that he's forming a third political party. Here's what to know about the America Party.

"The America Party is formed to give you back your freedom," Musk said, days after Trump debated deporting him.