Elon Musk say he's carrying out his threat to form a new political party after his fissure with President Donald Trump, announcing on X that he is forming the America Party in response to the president's sweeping tax cuts law.

Elon Musk has launched the "America Party," aiming to disrupt the two-party system and challenge what he calls a corrupt "uniparty." This move formalizes his growing feud with Trump, as Musk vows to fund challengers to Republican incumbents.