July 5, 2025 - Billionaire Elon Musk announced the formation of a new political party via his social media platform, X (formerly Twitter). The stated goal of the party is to "give you freedom." Musk aims to secure a minority of seats in Congress to influence key legislation.
Musk stated that the nation is heading towards bankruptcy due to waste and corruption. He added that the country is living under a one-party system, not a democracy. Musk, born in South Africa, cannot run for U.S. President. However, he believes he can influence federal and state elections. His estimated wealth is around $360 billion.
Musk's political stance is right-leaning, potentially limiting support from Democratic voters. His relationship with President Trump has also become strained. The new party's long-term impact on the U.S. political landscape remains uncertain.