Elon Musk has the ‘influence' to affect members of Congress to join his theoretical new party
'Mr Musk, if he chose to, could influence a couple of key races,' Mr DeSipio told Sky News Australia.
'If Mr Musk really wanted to have some effect, he could target a handful of members of Congress and flip control to the Democrats.'
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The announcement from Musk comes after Republican President Trump signed his self-styled "big, beautiful" tax-cut and spending bill into law on Friday, which Musk fiercely opposed. Musk, who became the word's richest man thanks to his Tesla car company and his SpaceX satellite firm, spent hundreds of millions on Trump's re-election and led the Department of Government Efficiency from the start of the president's second term aimed at slashing government spending. The first sign of investor dissatisfaction with Musk's announcement followed later in the day. Investment firm Azoria Partners will postpone the listing of a Tesla exchange-traded fund, Azoria CEO James Fishback said in a post on X. Fishback, who has asked Tesla's board to clarify Musk's political ambitions, said the new party undermined the confidence shareholders had that he would focus more on the company after leaving government service in May. 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