Elon Musk says he has created a new political party - the America Party - after asking his followers if he should do so in an online poll.
It follows his public falling out with Republican President Donald Trump.
On Friday, the tech billionaire had asked his followers on X whether a new US political party should be created.
On Saturday evening he wrote on the same platform: "By a factor of 2 to 1, you want a new political party and you shall have it!
"When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy.
"Today, the America Party is formed to give you back your freedom."
The world's richest man made the announcement just one day after President Trump signed a tax-cut and spending bill into law on Friday, which Musk had fiercely opposed.
Musk had previously said he would form and fund a new political party to unseat lawmakers who supported the bill.
From bromance to bust-up
The Tesla boss backed Mr Trump's election campaign with more than a quarter of a billion dollars, later rewarded with a high-profile role running the newly created department of government efficiency (DOGE).
But observers of the two men, both with huge wealth and reputations, wondered how long the bromance would last.
In May, Musk left the role, still on good terms with the president but criticising key parts of his legislative agenda.
After that the attacks spiralled, with Musk slamming the sweeping tax and spending bill as a "disgusting abomination" and Mr Trump hitting back in a barbed tit-for-tat.
President Trump earlier this week threatened to cut off the billion-dollar federal subsidies that flow to Musk's companies, and said he would even consider deporting him.
(c) Sky News 2025: Elon Musk says he's created his own political party - the 'America Party'
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