Elon Musk launched the "America Party" Saturday, calling for an end to the “uniparty" system after President Donald Trump signed the "big, beautiful bill" into law.

July 7–8, 2025: The first trading day since Musk’s weekend announcement, Tesla shares tumbled, and Musk’s personal fortune dropped by as much as $15 billion, according to the Bloomberg Billionaires Index. As of July 9, it stands at $349 billion with Tesla shares broadly unchanged.

Republicans are rightly worried about Elon Musk’s threat to form a third party, but for all his considerable talents, the billionaire’s latest political project faces numerous obstacles before it can become a real threat to the status quo.