Nigeria, July 6 -- The feud between President Donald Trump and his former ally, Elon Musk, has taken a new twist as the tech billionaire announced the formation of the American Party, a new political party to challenge the two dominant parties.

He made this announcement on Saturday, a day after Mr Trump signed his self-styled "Big, Beautiful Bill" into law.

Mr Musk fiercely opposes the bill, arguing that it would bankrupt America. The allies who have worked together since the early days of Mr Trump's campaign are now at odds over the legislation.

PREMIUM TIMES earlier reported that the once-strong alliance between Mr Trump and Mr Musk began to fracture after the bill passed the House in May. Mr Musk, who previously led DOGE, criticised...