"I think it'll help us," Trump said about Elon Musk's "America Party." He added that "third parties have always been good for me."

"The America Party is formed to give you back your freedom," Musk said, days after Trump debated deporting him.

Musk's proposal for a third party comes after disagreements with President Trump over a tax and spending bill that was passed. Does the world's richest man have a chance of succeeding where others have failed?