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.

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."

Elon Musk says he has formed a new political party called the America Party. But it remains unclear what formal steps, if any, he has taken to establish it.