Elon Musk follows threat to leave California and moves to Texas

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Billionaire Elon Musk has reportedly followed through on his threat to leave his former state of California and move to Texas to get closer to his businesses.

Musk confirmed this decision in an interview with Matt Murray, editor of the Wall Street Journal.

“The two most important things I’ve started right now are the development of Starship in South Texas… and then the big new US factory for Tesla,” said the chief of Tesla, 49.

“It wasn’t necessarily a good use of my time here (in California).”

Musk, 49, has lived in the Los Angeles area, where SpaceX is headquartered, for two decades. Tesla is headquartered in Palo Alto, Calif., And the electric car maker’s flagship auto plant is located on the San Francisco Bay Area in Fremont.

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Last May, Tesla filed a lawsuit in Alameda County, Calif., After officials refused to let the company reopen its factory amid the COVID-19 pandemic.

“” Frankly, this is the last straw. Tesla will now immediately move its headquarters and future programs to Texas / Nevada, ”Musk tweeted. Musk had spent the first few months of the pandemic battling the restrictions and posting bogus claims about the virus itself.

Texas could potentially offer some tax break for the world’s second richest man. It does not collect personal income tax, while California has some of the highest state tax rates in the United States.

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