Tesla chief executive Elon Musk, the former “first buddy” who was U.S. president Donald Trump’s right-hand man until recently, has announced he’s starting his own political party called the “America Party" (while dropping hints he’s still backing bitcoin).

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Musk, whose stark warnings over the spiraling $37 trillion U.S. debt pile were a big part of his campaign to get Trump back into the White House last year, has fallen out with Trump over the raising of the U.S. debt ceiling in Trump’s signature "one, big, beautiful #MuskAmericaParty #MuskXPayments #TrumpVsMuskEffect #TrumpTariffs $DOGE $TRUMP