“There are just very, very significant barriers to the creation of a viable third party,” said David Hopkins, a Boston College political science professor. He said challenges include building party infrastructure, organising volunteers and qualifying for the ballot.
David Jolly, a former Republican congressman from Florida who left the party over Trump, said Musk can provide what has long been required for such a push: money.
“What the independent space has been lacking has been resources,” Jolly said. “It’s more than filing with the Federal Election Commission. It’s really [about] starting 50 state parties. You’re talking about $100m (R1.78bn) just to enter the space with real serious intent.”
In 2016 former New York mayor Michael Bloomberg, another billionaire, made a similar conclusion, rejecting the idea of running for president as an independent, saying that such a candidate would have “no chance of winning”.
Jolly estimated it would take Musk 10 years and perhaps $1bn (R17.7bn) to build a viable national party — and said Musk’s recent history with his department of government efficiency (Doge) suggests the billionaire may not be in it for the long haul. Musk left Doge after just a few months in Trump’s administration, having delivered little of the savings he promised.