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.

"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.

Ross Perot — a billionaire frustrated with America’s ballooning budget deficits and fed up with its two-party system — ran for president as an independent. He won 19% of the vote against the Republican incumbent (George H.