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."

"When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy," Musk said in the announcement.

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,