Elon Musk suggested a third political party, which he’s floated as the “America Party,” will hold significant sway in the Senate and House under slim Republican margins, as he aspires to form a competing party after breaking with the GOP over President Donald Trump’s signature policy bill.

Musk has clashed with Trump over the president's massive domestic spending plan, saying it would explode the US debt, and vowed to do everything in his power to defeat lawmakers who voted for it.

The richest man in the world says he has started “the America Party.” Turning it into a meaningful movement will be difficult.