Overview
- Musk formally announced the America Party on July 5, aiming to secure just two to three Senate seats and eight to ten House districts in the 2026 midterms through independent caucusing.
- Tesla shares tumbled about 7 percent on the first trading day after the announcement, wiping out roughly $15 billion of Musk’s net worth.
- President Trump denounced the new party as “ridiculous,” warning that third-party bids only create “complete and total DISRUPTION & CHAOS.”
- Analysts warn that winner-take-all elections and stringent ballot-access laws pose significant obstacles to third-party success.
- Musk has yet to file formal Federal Election Commission paperwork, raising questions about the party’s legal standing as Tesla reported a 14 percent year-on-year drop in second-quarter deliveries.