Elon Musk, the founder and CEO of Tesla, has moved from the state of California to Texas. He did that to be near the new SpaceX spacecraft and Tesla’s new electric car plant in Austin.
Musk talked about his move in an interview in The Wall Street Journal.
For the past twenty years, Musk has lived mainly in the Los Angeles area, where SpaceX is headquartered. He also travelled frequently to Tesla’s main manufacturing facility near San Francisco. The new Texas plant will build two vehicles for Tesla: the Cybertruck pickup truck and an electric trailer.
The move may affect the tax returns of Musk, recently the second richest man in the world. Texas has no income tax, while California imposes one of the highest personal income taxes in the country on its wealthiest residents.
In May, Musk threatened to move his Tesla factory in Fremont and headquarters in Palo Alto, California, to Texas or Nevada.
The threat followed the authorities’ decision not to allow him to reopen the factory during the then lockdown. He previously called the California lockdown “fascist” and labelled the panic that arose after the outbreak of the corona pandemic as “stupid”.
