Elon Musk, a former ally of US President Donald Trump, said he had launched a new US political party to challenge the country's "one-party system", AFP reported.

Musk, the world's richest man and Trump's biggest political donor in the 2024 election, has clashed with the president after leading Republicans' efforts to cut spending and federal jobs as head of the so-called Office of Government Efficiency.

"When it comes to bankrupting our country through waste and corruption, we live in a one-party system, not a democracy. Today, the American Party is being formed to give you back your freedom," the Space X and Tesla CEO wrote on the social network X, which he owns.

Musk cited a poll published in X on July 4, U.S. Independence Day, asking respondents whether they “wanted independence from the two-party (some would say one-party) system” that has dominated American politics for about two centuries.

The yes-or-no survey garnered more than 1.2 million responses.

“By a 2-to-1 margin, you want a new political party and you’re getting it!” he wrote.

Late last month, the feud between Trump and Musk flared up again when Trump pressed Republicans in Congress to push through his sweeping domestic agenda in the form of “One Big Beautiful Act.”

Musk has voiced strong opposition to the legislation and relentlessly attacked his Republican supporters for supporting “debt slavery.”

He quickly vowed to create a new political party to oppose lawmakers who campaigned to cut federal spending and ultimately voted for the law, which experts say will add an additional $3.4 trillion to the U.S. deficit over a decade.

After Musk sharply criticized the spending bill that was eventually passed by Congress and signed into law, Trump threatened to deport the tech mogul and strip federal funds from his businesses.

“We’ll have to look into it,” the president told reporters when asked if he would consider deporting Musk, who was born in South Africa and has been a U.S. citizen since 2002. | BGNES