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."

Donald Trump fell in love with Elon Musk when the richest man in the world bankrolled his reelection campaign. Then he fell out of love with Musk when the tech titan openly criticized his ‘Big Beautiful Bill.

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.