Elon Musk appears to have incorporated a new company in Texas, according to business filings reviewed by Newsweek. There has been considerable interest in the corporate activities of Musk, the world's richest person, particularly as he has assumed greater political significance as one of President Donald Trump 's close allies.

However, Musk announced Wednesday evening that he is leaving his role as a special government employee and top adviser to President Donald Trump. His job heading the Department of Government Efficiency was always supposed to be temporary. But in a recent interview with CBS, Musk was critical of the president’s “big, beautiful bill.”

Elon Musk confirmed that he's ending his time in politics and returning to his companies. Here's what led to this point.