Elon Musk says he has formed a new political party called the America Party. But it remains unclear what formal steps, if any, he has taken to establish it.

As a foreign-born U.S. citizen, Musk cannot run for president but he can support third-party candidates, who can put themselves on the ballot in every state, if they have enough signatures to support their bid. It is rare for third-party candidates to break through significantly.