"Today, the America Party is formed to give you back your freedom,"

In short:
Elon Musk announces he is forming the "America Party", as his feud with US President Donald Trump deteriorates further.

The announcement comes after Mr Trump signed his self-styled "big, beautiful" tax-cut and spending bill into law on Friday.

What's next?
Mr Musk has previously said he would start spending money to unseat members of congress who supported the bill.