Billionaire Elon Musk said Saturday he is forming a third political party, after a dramatic falling out with Donald Trump, indicating he will make good on threats he made if the president’s domestic policy bill became law.

Tesla and SpaceX CEO Elon Musk has confirmed the formation of a new political party in the United States, dubbed the America Party, following a highly publicized fallout with President Donald Trump. The announcement comes days after Trump signed into law a sweeping domestic policy bill that Musk had fiercely opposed,

Elon Musk, an ex-ally of US President Donald Trump, said Saturday he had launched a new political party in the United States to challenge what the tech billionaire described as the country's "one-party system.