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."

"When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy," Musk said in the announcement.

The onetime Trump adviser is toying with the idea of establishing his own political party as the billionaire sours on the current administration — but some GOP lawmakers aren’t convinced Musk can compete.