Elon Musk, the world's richest man and at least a former supporter of President Donald Trump, has said that he’s forming a new political party. But it remains unclear what steps — if any — he’s taken to do so, or how the effort might affect upcoming elections.
Musk has not yet released any additional information. Spokespeople for Musk and his political action committee, America PAC, didn’t immediately comment on the claim by Musk he was forming the America Party “to give you back your freedom.”
Former Democratic Minnesota Congresswoman Dean Phillips, who has said repeatedly the U.S. needs more than the two primary parties and actually ran against President Joe Biden in the 2024 Democratic Primary, says he's planning to meet with Musk about the possibility of creating a new party.
"Mr. Musk, as we all know, has done what few can do," Phillips said on Wednesday talking to WCCO's Chad Hartman. "He's alienated the right and the left. I think that's fair to say. I don't believe that if he is the face of a new party, it will succeed."
Still, Phillips acknowledges that money talks in politics now, and Musk has shown he not only has it - he's willing to spend it on elections. He reportedly spent at least $250 million supporting Trump in the 2024 election.
"I anticipate we will be speaking, and I'm not, I just can't get into those details," Phillips tells WCCO. "There are others, Andrew Yang of course, started the Forward Party, and there are many. There are current elected officials who are interested in another way. There are tens of millions of Americans, everybody who is now an independent, that is interested in another way."
Phillips also adds there is still space for the Republicans and Democrats who dominate national politics. Currently, there are no independent or minor party candidates in the U.S. House, and two - Sen. Bernie Sanders of Vermont and Sen. Angus King of Maine - in the U.S. Senate. Both of them are prior Democrats.
"It's not a threat," says Phillips. "It's not to take a party down. It's simply to create a space and place for people who want to see this done differently."
Inside state politics, there have been some minor party and independent success stories, such as former Minnesota Governor Jesse Ventura, but even that has been very rare in recent decades.
It's been even rarer on the national stage and in Presidential races. Only three have made any impact on the race with one - yes, George Washington - winning the presidency. In 1912, former President Theodore Roosevelt won 27% of the vote, by far the most ever by an independent. And Ross Perot, the also very rich and outspoken candidate from Texas, won a shocking 19% of the vote against Democrat Bill Clinton and Republican incumbent George H.W. Bush in 1992. Clinton won the election.
New political parties are often formed but typically struggle to pull any significant support away from the Republican and Democratic parties. But Musk could impact next year’s elections determining control of Congress if he is willing to spend significant amounts of money — through a new party or existing ones.