Musk described his new party on his platform X as tech-centric, budget-conscious, pro-energy and centrist, with the goal of drawing both disaffected Democrats and Republicans. Musk has criticized the tax-cut bill, which is forecast to add about $3.4 trillion to the United States' debt.

Musk's proposal for a third party comes after disagreements with President Trump over a tax and spending bill that was passed. Does the world's richest man have a chance of succeeding where others have failed?