Elon Musk has declared on social media platform X that he is establishing a new political entity in the U.S. known as the "American Party". This initiative aims to serve as an alternative to the existing two-party system. It has already garnered interest from business figures, including billionaire Mark Cuban and investor Anthony Scaramucci, who have publicly shown their support for Musk. This news was reported by Engadget.

Cuban, who reacted to Musk's post with joyful emojis, noted that he is collaborating with the Center for Competitive Democracy and is willing to assist Musk's party in getting on the ballots.

Scaramucci, who briefly served as White House Communications Director during Trump’s presidency in 2017, has proposed a meeting with Musk to discuss next steps. Both businessmen have previously supported Kamala Harris’ candidacy.

Musk stated that his "American Party" plans to secure 2–3 seats in the Senate and 8–10 districts in the House of Representatives. As of now, it is unclear whether the political entity has been officially registered: some mentions in the Federal Election Commission appear dubious and coexist with humorous names such as "DOGE Party" and "American Meme Party".