World
Elon Musk’s new US political party faces steep challenges
WASHINGTON (Reuters) – Building a new US political party from scratch is a daunting task, even for the world’s richest man.
But that is what Elon Musk, the billionaire behind Tesla and SpaceX, said he plans to do in the wake of his falling out with President Donald Trump. Musk this weekend announced the birth of the “America Party” – dedicated, he said, to defeating Republicans who backed Trump’s massive tax-cut and spending bill.
Musk described his new party on his platform X as tech-centric, budget-conscious, pro-energy and centrist, with the goal of drawing both disaffected Democrats and Republicans. Musk has criticized the tax-cut bill, which is forecast to add about $3.4 trillion to the United States’ debt.
Breaking the two-party system’s grip on US federal elections would take tremendous resources and a long-term commitment, political experts say. Similar attempts have failed, underscoring how difficult it is to gain a foothold in a country where elections are organized on a state-by-state level.
“There are just very, very significant barriers to the creation of a viable third party,” said David A. Hopkins, a Boston College political science professor. He said challenges include building party infrastructure, organizing volunteers and qualifying for the ballot.
David Jolly, a former Republican congressman from Florida who left the party over Trump, said Musk can provide what has long been required for such a push: money.
“What the independent space has been lacking has been resources,” Jolly said. “It’s more than filing with the Federal Election Commission. It’s really starting 50 state parties. You’re talking about $100 million just to enter the space with real serious intent.”
Jolly considered returning to politics as an independent, but he concluded that staying within the two-party system would be a more effective way to reach unhappy voters. He is now running for governor of Florida as a Democrat.
In 2016, former New York Mayor Michael Bloomberg, another billionaire, made a similar conclusion, rejecting the idea of running for president as an independent, saying that such a candidate would have “no chance of winning.”
Jolly estimated it would take Musk 10 years and perhaps $1 billion to build a viable national party – and said Musk’s recent history with his Department of Government Efficiency suggests the billionaire may not be in it for the long haul.
Musk left DOGE after just a few months in Trump’s administration, having delivered little of the savings he promised.
“What we have seen is an Elon Musk who is not disciplined … enough to change American politics,” Jolly said.
Musk’s office did not respond to a request for comment. Tesla shares closed nearly 7% lower on Monday as Musk reignited investors’ worries about his focus on the company.
PLAYING SPOILER
Musk could have chosen a more traditional path, using his political action committee to back Republican challengers to incumbents in the party primaries ahead of next year’s midterm elections, which will determine control of Congress.
He was the largest donor in the 2024 US campaign cycle, making nearly $300 million in contributions, mostly focused on helping Trump return to the White House.
Not all his political efforts have paid off. He poured millions of dollars into a Wisconsin Supreme Court election in April, only to see his preferred candidate fail.
His efforts to convince Republicans in the US Congress not to pass Trump’s tax bill also fell flat.
It is unclear how effective he would be in backing independents in a handful of competitive US House of Representatives races.
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