India, July 6 -- Billionaire entrepreneur Elon Musk announced the launch of a new "America Party" on Saturday in a post on X, the social media platform he owns.

"By a factor of 2 to 1, you want a new political party and you shall have it! When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy. Today, the America Party is formed to give you back your freedom," he said in a post. The development comes just a month after Musk's high profile falling out with US President Donald Trump.

While the party's exact platform is unclear, Musk says he aims to shake up America's two party political system, which is dominated by the Democratic and Republican parties. Musk hinted at what his new party...