In a stunning move, the world's richest person, Elon Musk has started the legal proceedings to form his own political party in America. Musk had a falling-out with the US President Donald Trump after he accused him of bringing a law that would put America into "debt slavery".

Musk's proposal for a third party comes after disagreements with President Trump over a tax and spending bill that was passed. Does the world's richest man have a chance of succeeding where others have failed?

The world’s richest man, Elon Musk, has announced that he has formed a new US political party, “The America Party”.