I wished that was Warren Buffet's parting gift to the world. He is the only billionaire I would probably hold confidence in bankrolling the establishment of a new party.
I mentioned the Whig party earlier.
The demise of the Whig Party made the birth of the Republican party possible.
Whigs used to be pro-corporate welfare, and high tariff, they were ambivalent on slavery. Northern Whigs tended to be antislavery, and southern Whigs pro-slavery.
When the party collapsed and the Kansas-Nebraska Act spawned the Republican party, northern Whigs drifted to the Republicans. Northern anti-immigrant "No Nothing" Party members also drifted to the Republicans. Free Soil Party members also drifted to the Republicans. The coalition within the Republican party consisted of anti-slavery types, pro-corporate welfare types, high tariff types, anti-immigrant types and free soil types, in varying degrees.
There was few antislavery types In the South, so no southern Republican party ever grew, so everyone became a Democrat (although dissenters called themselves "the Opposition," a party without an organization or a platform). Low-tariff Northerners stayed in the Democratic party, but they got clobbered as pro-slavery (even though northern Democrats were pretty weak in their pro-slavery stance) and that position really did not sell in the North.
In 1856, there was a three-way election between Whigs (Fillmore), Republicans (Fremont) and Democrats (Buchanan). Buchanan won with 45% of the popular vote.
In 1860, the Whigs were mostly gone to other parties and the race came down to Democrats (Douglas), Southern Democrats (Breckinridge), Republicans (Lincoln) and the "Constitutional Union" party (Bell) which was moderate on slavery and the tariff. Lincoln won a plurality even though he was not even on the ballot in any southern states.
The political trauma of the Civil War killed off every party except the Republicans and Democrats.
It took a ten-year process, the death of one of the major parties, and a civil war for a third party to coalesce into a viable party. Difficult but not impossible.