Elon Musk isn't done with politics just yet. Days after the SpaceX and Tesla CEO threatened to form his own political party as an alternative to America's "Democrat-Republican uniparty," Musk has announced his pledge to do so.

“It is about time that the common sense man and the business man and the farmers and bankers of this country get together and formed a third political party,” William H. Woodin, the industrialist and future Treasury Secretary, told The Wall Street Journal on April 6, 1922.

A new poll found the likelihood of an America Party candidate winning an election is slim. It could, however, draw votes away from Republican candidates, hurting their chances as well.

LinkedIn cofounder and top Democratic donor Reid Hoffman said he's "very sympathetic" to Musk's core cause of reining in deficits.

The world’s greatest innovator has set his sights on America’s biggest problem: the two-party system that is ripping our social fabric, bankrupting