‘You shall have it,’ Elon Musk launches new political party - ‘America Party’ - after Trump’s tax bill passes

Elon Musk on Saturday revealed the launch of a new political party, just a day after President Donald Trump approved a tax-cut and spending package that was openly criticised by the Tesla boss. 

Musk revealed the development on his X platform, citing a poll he conducted showing that 65% of respondents supported the idea of launching an “America Party.” The yes-or-no survey earned more than 1.2 million responses.

"By a factor of 2 to 1, you want a new political party and you shall have it!" he posted on Saturday.

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

Musk also shared a meme depicting a two-headed snake and the caption “End the Uniparty.”

Musk, the world’s richest man, didn’t provide details. He floated the idea as Congress prepared to pass Trump’s budget package, which will end of a popular $7,500 consumer tax credit for electric vehicle purchases this year.

It is not clear how much impact the new party would have on the 2026 mid-term elections, or on the presidential vote two years after that.

Trump-Musk feud

The Trump-Musk feud reignited in dramatic fashion late last month as Trump pushed Republicans in Congress to ram through his massive domestic agenda in the form of the One Big Beautiful Bill.

Musk expressed fierce opposition to the legislation, and ruthlessly attacked its Republican backers for supporting "debt slavery."

He vowed to launch a new political party to challenge lawmakers who campaigned on reduced federal spending only to vote for the bill, which experts say will pile an extra $3.4 trillion over a decade onto the US deficit.

The feud with Trump, often described as one between the world's richest man and the world's most powerful, has led to several precipitous falls in Tesla's share price.

The stock soared after Trump's November reelection and hit a high of more than $488 in December, before losing more than half of its value in April and closing last week out at $315.35.

(With inputs from agencies)