While Musk was able to pour millions of dollars into pro-Trump super PACs last year, he would not legally be able to bankroll a political party. Third parties generally have to spend a great deal of money to secure ballot access before focusing on getting their candidates elected.

Elon Musk launched the "America Party" Saturday, calling for an end to the “uniparty" system after President Donald Trump signed the "big, beautiful bill" into law.