Elon Musk, the single biggest Republican donor in the 2024 elections, says he wants to create a new political party to lower the US national debt, which currently stands at $37 trillion.

MAGA supporters could be "drawn to Musk's views about government spending, technology and trade," a political scientist told Newsweek.

U S President Donald Trump has hit out at former close ally Elon Musk over the multi-billionaire's plan to launch a new political party. "I am saddened to watch Elon Musk go completely 'off the rails,' essentially becoming a train wreck over the past five weeks," Trump posted on his Truth Social platform on Sunday.