Washington, July 06 (V7N) — Tech billionaire Elon Musk has announced the formation of a new political party in the United States following a public rift with President Donald Trump. Musk made the announcement on his social media platform X (formerly Twitter) on Saturday (July 5), local time, according to BBC News.

In his post, Musk revealed that the party will be called the “America Party”. He described its mission as restoring the freedoms of the American people, claiming, “When the country is being bankrupted through unnecessary spending and corruption, we are actually living in a one-party system, not a democracy.”

Details about the party’s structure and leadership remain unclear. It is also not confirmed whether the party has been formally registered with the U.S. Federal Election Commission.

Musk, who was once seen as an influential ally of Trump, notably supported him during his presidential campaign. Reports suggested Musk’s close alignment with Trump, including major financial backing and his appointment as head of the White House’s so-called “Efficiency Department” after Trump’s victory.

However, relations soured recently over Trump’s controversial Big Beautiful Bill, a sweeping tax cut and spending plan that critics argue will balloon the federal deficit. Musk vocally opposed the bill, calling out its provisions in multiple X posts and warning lawmakers who supported it.

In response, Trump accused Musk of hypocrisy, claiming his companies had received “the largest subsidies in U.S. history” and alleging that without government support, “he’d have to shut down and go back to South Africa.”

Musk’s new political move signals further upheaval in U.S. politics ahead of the next election cycle.

END/RH/AJ