"When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy," Musk said in the announcement.

Elon Musk declared the launch of his new political party on Saturday, a project he has repeatedly floated in the weeks since his explosive breakup with President Donald Trump — but provided no details as to how he planned to jump through the hoops necessary to establish a viable alternative.

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