India, July 6 -- SpaceX and Tesla boss Elon Musk, who is a former ally of President Donald Trump, said on Saturday that he launched a new political party in the United States to challenge what the tech billionaire described as the country's "one-party system."

"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 posted on X.

"By a factor of 2 to 1, you want a new political party and you shall have it!" he posted on Saturday.

Musk, who was Trump's biggest political donor during the 2024 election, had a bitter fallout with the US President after leading the Republicans' effort to slash spending and cut federal jo...