Elon Musk has set up a third party and pledged to contest next year’s midterms. But to find a third party that has performed well in a midterm election, we must journey far into the annals of

Elon Musk has said that he's formed a new political party, but it's unclear what steps — if any — he's taken to do so, or how the effort might affect upcoming elections. Musk has not yet released any additional information. Spokespeople for Musk and his political action committee, America PAC, didn’t immediately comment Monday.