Elon Musk said he’s carrying out his threat to form a new political party after his fissure with President Donald Trump, announcing on social media that he would form the America Party in response to the president’s sweeping tax cuts law.

MSNBC host Jen Psaki breaks down the barriers Elon Musk will face in creating a third political party, and why he'll likely fail

Tesla shares tumbled after CEO Elon Musk announced that he plans to start a new political party, reigniting concerns that his attention will turn away from running the EV maker and that a public feud with President Trump will escalate.

Washington Examiner Senior Writer Joe Concha predicted Tesla CEO Elon Musk would not elect even one representative to Congress via his new political party. Musk conducted a poll on X Saturday that found 65.

In the wake of President Trump’s key tax and spending bill passing Congress and being signed into law, Elon Musk asked on social media if he should form a new political party, calling it the “America Party”.

Americans are entrenched into their partisan corners, but the party lines keep moving in weird new ways. Republicans who grew up in the Grand Old Party might not recognize a party overtaken by the Make America Great Again movement.