From independent presidential bids to third-parties, several prominent businessmen have tried to upend America's two-party system in recent decades.

More than a month after their initial social media bluster, Elon Musk has announced the formation of a new U.S. political party in response to U.S. President Donald Trump signing his sweeping tax and spending bill into law.

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.