/https://specials-images.forbesimg.com/imageserve/5fd0001e8dd3eeea4998c039/0x0.jpg?cropX1=0&cropX2=4513&cropY1=439&cropY2=2976&w=1200&resize=1200,675&ssl=1 "Elon Musk Confirms He’s Moving From California To Texas")
Topline
Tesla CEO Elon Musk on Tuesday said he has moved from California to Texas, although Tesla and SpaceX continue to operate in California, a move which comes after he sparred with the state over coronavirus restrictions.
Tesla CEO Elon Musk at an event in Berlin, Germany on December 1.
Getty Images
Key Facts
When asked about the move at the Wall Street Journal CEO Council summit, Musk said two of his biggest projects right now are based in Texas, referring to the Tesla factory and SpaceX facility.
Before confirming that he has moved, he emphasized that Tesla and SpaceX have “massive operations” in California despite many automobile and aerospace companies moving their manufacturing factories out of the state.
Musk said he thinks California has become “complacent” with Silicon Valley startups and echoed his broader concerns about government regulations, calling on the government to “just get out of the way” of innovators.
Key Background
There was speculation Musk would make the move. Last week, CNBC reported Musk’s close friends and business associates said he was planning on moving to Texas and yesterday Bloomberg reported he moved his foundation from California to Texas. In May, Musk filed a lawsuit against Alameda County and threatened to move Tesla’s operations out of the state because Tesla was not permitted to reopen its factory because of coronavirus restrictions.
Big Number
$144.7 billion. That’s Musk’s net worth, according to Forbes. Texas has no state income tax.
Further Reading
Elon Musk Moves to Texas, Takes Jab at Silicon Valley (Wall Street Journal)
Tesla Files Lawsuit in Bid to Reopen Fremont Factory (Wall Street Journal)
Elon Musk Reportedly Relocated His Foundation To Texas, Fueling Rumors He’ll Move There Too (Forbes)
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