"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."

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?

President Trump said Elon Musk's new third party is "good for me" but maybe not for other Republicans during a press conference.