Tesla CEO Elon Musk has joined One-fifth of Americans Who have made the “epidemic move”. After spending most of his life in California, Musk has relocated to Texas.
The Tesla CEO lets that news slip during that interview The Wall Street JournalAnnual CEO Council Summit. He cited the construction of a new Tesla factory outside Austin as well as the planned launch site of Space X near the South Texas village of Boca Chika as a factor in his move. CNBC Reported last week That Musk was considering relocating to Texas.
He also criticized California’s economic climate as another reason. “If a team has been winning for a very long time, they are happy,” Musk said. “California has been winning for a very long time, and I think they’re backing it.”
Musk argued that Silicon Valley, home to some of the world’s largest and most influential companies, was declining in relevance.
It seems that leaving California is on Musk’s mind for a while. On May 1, he tweeted, “I don’t own a home.” Later, it was reported that he Sold all his house Combined in California.5 for 62.5 million.
It’s not just about his companies being close to various projects in Texas. Musk also raises a lot of money on income tax by going to Lone Star State. Billionaire CEOs are preparing to make more than 50 50 billion in stock options, and while they live in California, they will have to pay income tax on profits. Texas, however, is No personal income tax.
Musk recently surpassed Bill Gates The second richest man in the world. After an increase of 100 billion dollars this year, its total assets are now around 128 billion dollars. It made an additional 10 10 billion in December with the news that the company planned to do its second job on Tesla shares. Billion 5 billion capital increase In the last three months he has now been shy of nearly 80 80 billion in arresting Amazon CEO Jeff Bezos.
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