Musk's party will apparently speak for moderates who are fed up with the two main parties . | Credit: Bloomberg / "Another angry billionaire wants his own political party," said Tom Nichols in The Atlantic.

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.

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."