Elon Musk says he is launching a new political party, weeks after a dramatic falling out with US President Donald Trump. The billionaire announced on his social-media platform X that he had set up the America Party and billed it as a challenge to the Republican and Democratic two-party system.

The tech billionaire formally declared the "America Party" after President Trump signed his signature bill, setting the stage for a dramatic political confrontation.

Elon Musk declared the launch of his new political party on Saturday, a project he has repeatedly floated in the weeks since his explosive breakup with President Donald Trump — but provided no details as to how he planned to jump through the hoops necessary to establish a viable alternative.