WASHINGTON, July 7 (Xinhua) -- U.S. President Donald Trump has dismissed billionaire entrepreneur Elon Musk's threats to form a third political party.

"I'm saddened to watch Elon Musk go completely 'off the rails,' essentially becoming a TRAIN WRECK over the past five weeks," Trump posted on social media Sunday night.

He was referring to Musk's threats to form a third political party to rival Democrats and Republicans.

The president called that idea "ridiculous," adding that it would cause confusion.

The feud between the two billionaires began in early June after Musk blasted Trump's landmark One Big Beautiful Bill, a gargantuan tax and spending package that Trump signed into law on Friday, the Independence Day.

Musk lambasted the legislation, saying it could add trillions of U.S. dollars to the national debt.

"Today, the America Party is formed to give you back your freedom," Musk said on social media.

In response, Trump posted on social media that third parties "have never succeeded in the United States," adding that "the one thing (they) are good for is the creation of Complete and Total DISRUPTION & CHAOS."

Musk's announcement caused shares of his company Tesla to take a dive. On Monday, the stock saw its largest single-day loss since June 5.

Christopher Galdieri, a political science professor at Saint Anselm College in the northeastern state of New Hampshire, told Xinhua: "Right now, Republicans have narrow margins in both chambers of Congress. If Musk were to fund primary challengers or independent general election candidates... that could cost Republicans in next year's midterms."

"Building a real party, rather than a vanity project, would involve finding and running credible candidates up and down the ballot, for unglamorous offices like school board and city council," Galdieri said.

Clay Ramsay, a researcher at the Center for International and Security Studies at the University of Maryland, told Xinhua: "Things like this have been tried not very long ago... The problem is that a political party needs a core idea."

"This venture would have to attract people younger than 45 who are already politicians on some level, and who have real political talent," Ramsay said.

"If Musk were to just concentrate on knocking out specific Republican senators and members, that would be a slightly better plan than starting a new political party," Ramsay added.

Brookings Institution Senior Fellow Darrell West told Xinhua: "There are lots of people who would like choices between the two major parties. Each has moved to the extremes and does not represent the broad swathe of America."

"He needs to find someone to lead the party who could appeal to more people," West said. ■