While Musk may have the millions to pour into backing certain candidates — which he has already promised to do, pledging to support Rep. Thomas Massie’s (R-Ky.) reelection campaign amid targeting from Trump — establishing a third party involves a series of thorny obstacles including navigating complex state laws, ballot access regulations and other legal hoops.

So far, the billionaire would-be party founder has yet to outline a concrete plan forward.

Mr. Musk, once a close ally of President Trump’s who in recent weeks has repeatedly bickered with him, had not filed paperwork as of Saturday evening for the new party, though he added in a separate post that the America Party would be active in elections “next year.” No immediate signs suggested that Mr. Musk was working to establish his party quickly. Any new entity would be required to be disclosed to the Federal Election Commission.