Elon Musk Has Moved to Texas, Leaving California Behind
Elon Musk announced on Tuesday that he's moved from California to Texas, something he's been hinting at since Spring.
Musk made the announcement at The Wall Street Journal’s annual CEO Council summit.
As of now, Tesla's main headquarters will remain in California, a state with which Musk has been battling against since the start of the pandemic.
A few days ago, CNBC hinted at Musk's move from California to the Lone Star State, and now it appears to be going ahead.
However, cozying up closer to some of his companies isn't Musk's only reason for the state shift. Musk has also stated his displeasure with California's complacency when it comes to economic environments. As home to some of the world's most influential companies, California has been relying on this power for too long.
It's been a while coming. Back in early May, Musk posted on Twitter that not only he, but that "Tesla will move its HQ and future programs to Texas/Nevada immediately."
Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependen on how Tesla is treated in the future. Tesla is the last carmaker left in CA.— Elon Musk (@elonmusk) May 9, 2020
Granted, that hasn't happened and it's not looking likely to happen anytime soon — although we wouldn't put it past Musk, who has a tendency to follow through with his Twitter musings.
Moving to Texas is also rather beneficial for Musk in terms of taxes, too, as there's no state income tax in the state. Compare that with California that has the highest in the country, and Musk is out to save a load of cash.
Musk recently became the world's second-richest person, sitting behind Amazon's Jeff Bezos in top place. Could this move make him the first?
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