Washington, 6 July 2025 (dpa/MIA) - Tech billionaire Elon Musk on Saturday said he has decided to form his own US political party, naming it "America Party."

The former adviser to US President Donald Trump made the announcement on his X platform, one day after submitting a poll to ask users whether he should create a new party to rival the Democrats and Republicans.

"By a factor of 2 to 1, you want a new political party and you shall have it," wrote South Africa-born Musk. "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," he added. It wasn't initially clear whether Musk has taken any formal steps to create the new party.

The announcement marks a climax to the feud between Trump and the Tesla boss.

Musk supported Trump's election campaign with more than $250 million and led the cost-cutting DOGE team after the January presidential inauguration until late May, carrying out massive job cuts and slashing US government spending.

The pair subsequently fell out over Trump's "One Big Beautiful Bill," which the president signed into law on Friday.

Critics, including Musk, argue that the bill would lead US debt to balloon in the coming years.