Building a viable new political party to rival the Democrats and Republicans is enormously difficult and expensive. Small wonder it hasn’t been done.

Elon Musk’s plan to create a new political party puts him in the company of a long line of business and political titans looking to upend the two-party system that has dominated U.S. politics since almost the beginning.

I think Washington needs to be overhauled 100%, but I just don’t think a third party is going to do it,” DeSantis said.

The richest man in the world said Saturday he has started a new U.S. political party, which he says will represent “the 80%” of voters “in the middle.” Tesla CEO Elon Musk last year went ...