WASHINGTON, DC - MAY 30: Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Musk, who served as an adviser to Trump and led the Department of Government Efficiency, announced he would leave his role in the Trump administration to refocus on his businesses.  (Photo by Kevin Dietsch/Getty Images)
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Tesla founder and billionaire Elon Musk has announced the name of his new political party: The America Party.

The South African-born tech entrepreneur has been vocal about his desire to create a third major political party to contest the Republican Party and Democratic Party in the United States.

After pilot-testing the name of his party with a poll on his platform X (formerly Twitter), Musk declared he has now formed The America Party.

WASHINGTON, DC - MAY 30: Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. Musk, who served as an adviser to Trump and led the Department of Government Efficiency, announced he would leave his role in the Trump administration to refocus on his businesses.  (Photo by Kevin Dietsch/Getty Images)
Tesla CEO Elon Musk announced the formation of The America Party. (Getty)

“By a factor of 2 to 1, you want a new political party and you shall have it!” Musk said.

“When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy.

“Today, the America Party is formed to give you back your freedom.”

Musk spoke about how he would bring his new US party into power in a post late last week on X.

“One way to execute on this would be to laser-focus on just 2 or 3 Senate seats and 8 to 10 House districts,” he said.

“Given the razor-thin legislative margins, that would be enough to serve as the deciding vote on contentious laws, ensuring they serve the true will of the people.”

Musk suggested his party could run during the 2026 midterm elections.

Political parties in the US only need to be registered with the Federal Election Commission if they raise or spend money over a certain threshold.

US President Donald Trump during a signing ceremony for the One Big Beautiful Bill Act on the South Lawn of the White House in Washington, DC, US, on Friday, July 4, 2025. Trump signed his $3.4 trillion budget bill into law Friday, enshrining an extension of tax cuts, temporary new breaks for tipped workers and funding to crack down on illegal immigration. Photographer: Bonnie Cash/UPI/Bloomberg
Musk spent hundreds of millions bankrolling Trump’s second presidential election campaign. (Bloomberg via Getty Images)

Musk spent US$277 million (approx. $422 million) of his own money in support of Donald Trump’s 2024 election campaign.

Musk has publicly opposed Trump’s ‘Big, Beautiful Bill’ which narrowly passed Senate last week and has critiqued the president’s economic policy on X.

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