Reportedly, it turns out that the political outfit has officially registered with the Federal Election Commission (FEC). Called 'America Party (AMEP),' the new organization registered with the FEC on July 6 under Filing FEC-1898441 and FEC Committee ID-C00910323.

WASHINGTON, July 5 (Reuters) - The dispute between Republican President Donald Trump and his main campaign financier Elon Musk took another fractious turn on Saturday when the space and automotive billionaire announced the formation of a new political party, saying Trump's "big, beautiful" tax bill would bankrupt America.

Tesla CEO Elon Musk said Saturday that he created a new political party called the America Party after reigniting a feud with President Trump.“By a factor of 2 to 1, you want a new political party and you shall have it!