MAGA supporters could be "drawn to Musk's views about government spending, technology and trade," a political scientist told Newsweek.

Elon Musk has said that he's formed a new political party, but it's unclear what steps — if any — he's taken to do so, or how the effort might affect upcoming elections. Musk has not yet released any additional information.

Here's what it would take for Elon Musk to launch a third-party effort to represent what he called "the 80% in the middle."