What Is Thriving Capital Ventures? Elon Musk’s Mysterious New Texas Venture

Elon Musk has quietly incorporated a new company in Texas, signaling a possible shift back to business ventures after a period of political involvement. Business filings reviewed by Newsweek confirm the creation of Thriving Capital Ventures, LLC on May 9, 2025, listing Musk and two other individuals as managers. This development comes as Musk steps away from political activity. After supporting Donald Trump in the 2024 presidential election and being appointed to lead the unofficial Department of Government Efficiency (DOGE), Musk indicated in May that he would be reducing political engagement. 

While the exact nature of Thriving Capital Ventures remains unclear, according to Newsweek its corporate filings do not specify its business purpose, the company is registered at a private office block in northeast Dallas, not far from the George W. Bush Presidential Center. The building provides both physical and virtual office services, and it’s unknown whether the company has a physical presence there.

Yair Cohen, a U.K.-based internet law specialist, said the setup suggests Musk could be preparing for a significant business move. “It’s actually pretty classic Musk to quietly set up a new company like this,” Cohen said, pointing to previous instances where Musk incorporated companies behind the scenes before making major announcements, such as with X Holdings, xAI, and The Boring Company.

This new development adds to Musk’s growing footprint in Texas. He is already building a corporate campus in Bastrop, which is expected to become the headquarters for X. The area will also house facilities for SpaceX and The Boring Company. Further south, in Cameron County, Musk has developed another SpaceX location dedicated to Starlink production. In May, local residents approved renaming the area Starbase, officially designating it as a city.

As of now, neither Musk nor Tesla has commented publicly on the new business registration.