"When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy," Musk said in the announcement.

President Trump slammed the tech billionaire's announcement that he's forming a third political party. Here's what to know about the America Party.

The feud between Elon Musk and Donald Trump escalates as Musk launches the 'America Party.' Trump criticized Musk's move, deeming him 'off the rails' on Truth Social, further adding that third parties create disruption.