Here's what it would take for Elon Musk to launch a third-party effort to represent what he called "the 80% in the middle."

After his split with President Trump, Elon Musk says he's forming a new political party, perhaps to compete for key congressional contests. It likely wouldn't be easy.

Musk said he wants to form the America Party. A third party has never won the presidency, but they have influenced elections, experts say — mostly as spoilers.