The Tesla CEO says both parties have failed and claims The American Party will fight government bloat, attract disillusioned Democrats, and shake up the system.

Writing on X, formerly Twitter, multiple people have responded to Musk announcing he would form a new party, though he has also attracted criticism, too. On Saturday, Musk announced he was forming a new political party called the "America Party.

"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.