Billionaire Elon Musk said he's launching a new political party amid his fallout with President Donald Trump.
“By a factor of 2 to 1, you want a new political party and you shall have it! 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 wrote in a post on his X account after teasing the concept of an "America Party" one day prior.
Musk's fallout with Trump stems from his disagreement with the president's 'One Big Beautiful Bill Act,' which passed on Thursday (July 3). The Tesla CEO responded "Me" to another X user's post claiming they donated to re-election campaign of Rep. Thomas Massie, one of Trump's biggest Republican foes, and asked "Who's next?" on July 1.
Trump, on the other hand, has pledged to support whichever Republican candidate challenges Massie in the primary, calling the politician a "loser" and "Third Rate Congressman" in an online tirade last week after Massie called for his impeachment over airstrikes on Iranian nuclear facilities.
Musk's post on X was shared less than an hour after Trump threatened to use his brainchild, the Department of Government Efficiency (DOGE), against him and warned that it could result in the billionaire having "to close up shop and head back home to South Africa."
"Elon Musk knew, long before he so strongly Endorsed me for President, that I was strongly against the EV Mandate," Trump wrote on his Truth Social account early Tuesday morning. "It is ridiculous, and was always a major part of my campaign. Electric cars are fine, but not everyone should be forced to own one. Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa. No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this? BIG MONEY TO BE SAVED!!!"
The posts followed other incidents in the fallout between Trump and Musk, who was one of his biggest supporters and financial donors during his reelection campaign. Philip Low, a neuroscientist who founded NeuroVigil and had previously had his own fallout with Musk, claimed that the Tesla CEO doesn't move on from feuds and predicted he was "going to do everything to damage" while speaking to Politico.
“I’ve had my share of blowouts with Elon over the years,” Low said. “Knowing Elon the way I know him, I do think he’s going to do everything to damage the president.”
Musk issued an apparent public apology to Trump last month, claiming he "went too far" in some of his viral posts directed at the president.
“I regret some of my posts about President @realDonaldTrump last week,” Musk wrote on X, the social media app he purchased in 2022. "They went too far."
The billionaire's temporary change of heart came after Trump publicly wished him well -- "very well, actually" and Musk responded with a heart emoji. The Tesla CEO didn't specify which posts he specifically regretted, though he specifically deleted one suggesting that Trump should be impeached and another accusing the president of being in the Jeffrey Epstein files.
"Time to drop the really big bomb: @realDonaldTrump is in the Epstein files. That is the real reason they have not been made public. Have a nice day, DJT!" Musk wrote.
Musk's claim came shortly after Trump addressed their recent split amid their disagreement over the 'One Big, Beautiful Bill Act.'
"Look, Elon and I had a great relationship. I don't know if we will anymore," Trump told reporters on Thursday via ABC News.
Musk, who previously led Trump's newly launched Department of Government Efficiency, responded in a post shared on his X account claiming Trump was showing "such ingratitude" after he spent more than $270 million backing his presidential campaign in 2024.