The American Party. It sounds audacious, disruptive, and very Musk-like. But what is it exactly, and does it have any chance of shaking up America’s entrenched political order?

The Tesla CEO says both parties have failed and claims The American Party will fight government bloat, attract disillusioned Democrats, and shake up the system.

Musk would need to overcome many hurdles to establish a third party. Similar efforts, including the late billionaire Ross Perot’s, haven’t lasted.