00:00Elon Musk announces forming of America Party and further break from Trump the tattered
00:04bromance between Republican President Donald Trump and his main campaign financier.
00:09Elon Musk took another fractious turn on Saturday, when the space and automotive billionaire
00:14announced the formation of a new political party, saying Trump's big, beautiful tax
00:18bill would bankrupt America.
00:20A day after asking his followers on his ex-platform whether a new U.S. political party should
00:25be created, Musk declared in a post on Saturday that,
00:28today, the America Party is formed to give you back your freedom.
00:32By a factor of two to one, you want a new political party, and you shall have it, he wrote.
00:37The announcement from Musk comes after Trump signed his self-styled big, beautiful tax cut
00:42and spending bill into law on Friday, which Musk fiercely opposed Musk, who became the
00:46world's richest man thanks to his Tesla car company and his SpaceX satellite firm.
00:51Spent hundreds of millions on Trump's re-election and led the Department of Government.
00:56Efficiency from the start of the president's second term aimed at us, slashing government
01:01spending.
01:02The two have since fallen out spectacularly over disagreements.
01:05About the bill.
01:07Musk said previously that he would start a new political party and spend money to unseat
01:11lawmakers who supported the bill.
01:13Trump earlier, this week, threatened to cut off the billions of dollars in subsidies that
01:17Musk's companies receive from the federal government.
01:20Republicans have expressed concern that Musk's on again.
01:24Off again feud with Trump could hurt their chances to protect their majority in the 2026
01:27midterm.
01:28Congressional elections.
01:30Asked Onyx what was the one thing that made him go from loving Trump to attacking him,
01:34Musk said.
01:35Increasing the deficit.
01:37From an already insane $2 trillion under Biden to $2.5 trillion, this will bankrupt the country.
01:43He referenced the growth of Greece from subjugation to preeminence in the ancient world in another
01:48tweet saying, the way we're going to crack the uniparty system is by using a variant of
01:53how Epaminondas shattered the myth of Spartan invincibility at Lutra, extremely concentrated
02:00force at a precise location on the battlefield.
02:03The feud with Trump, often described as one between the world's richest man and the world's
02:08most powerful, has led to several precipitous falls in Tesla's share price.
02:12The stock soared after Trump's November re-election and hit a high of more than $488 in December
02:19before losing more than half of its value in April and closing last week out at $315.35.
02:27Despite Musk's deep pockets, breaking the Republican-Democratic duopoly will be a tall order given that
02:33it has dominated American political life for more than 160 years.
02:37While Trump's approval ratings and polls in his second term have generally held firm above
02:4240%, despite often divisive policies.
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