Tesla and SpaceX CEO Elon Musk is now in a bitter back-and-forth with former White House chief strategist Steve Bannon, after the world's richest man announced his intent to follow through on his plan to launch a new third party to compete with Republicans.

Former Trump aide Steve Bannon tore into Elon Musk on Friday after the billionaire backed the creation of a new political party. Earlier this week, Musk announced he would help launch the “America Party” as an alternative to Republicans and Democrats if Congress passed President Donald Trump’s One Big Beautiful Bill Act.

Elon Musk may now be reaching a political crossroads of his own making. Just a few days before, the Tesla and SpaceX CEO had pledged to launch a new "America Party" party if former President Donald Trump's contentious tax-and-spending bill were to pass.