Elon Musk recently launched the America Party. By learning from Ross Perot's failed third party campaign in 1992, Musk's party could succeed.

It comes after the billionaire announced plans to launch the America Party, following his rift with President Donald Trump.

DAVID: There are two ways to think about a national third party: as a vehicle to get people elected and as a way to change policy. If Elon Musk's plan for the America Party is to elect a president or even compete with Democrats and Republicans for control of the House or the Senate, I wish him luck.

“It is about time that the common sense man and the business man and the farmers and bankers of this country get together and formed a third political party,” William H. Woodin, the industrialist and future Treasury Secretary, told The Wall Street Journal on April 6, 1922.

LinkedIn cofounder and top Democratic donor Reid Hoffman said he's "very sympathetic" to Musk's core cause of reining in deficits.

The world’s greatest innovator has set his sights on America’s biggest problem: the two-party system that is ripping our social fabric, bankrupting

The billionaire Testla owner wants to create a new political party. The Rhode Island businessman and former gubenatorial candidate tried it first.

Elon Musk is once again raging against the Trump administration for its handling of the investigation into deceased sex offender Jeffrey Epstein. Amid the billionaire entrepreneur’s explosive social media feud with Trump in June,