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.

Musk, who has distanced himself from Republicans amid his split with President Donald Trump, has suggested his political party will target Congressional seats.

The businessman has been talking about creating a new political party following his public fallout with President Donald Trump.