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Image source, EPA
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According to the billionaire, California “has too much influence in the world” although its power is fading.
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Elon Musk, founder of the electric car company Tesla, said he has left California and moved to Texas.
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As the billionaire said in an interview, he believes that California “has too much influence in the world” although its power is fading.
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Tesla, valued at $ 500 billion, is headquartered in California, but will build a new factory in the Texas city of Austin.
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Space X – Musk’s aerospace company – already operates in Texas.
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“The two biggest things I have going on right now are the development of (the ship) Starship in South Texas … and the new big Tesla factory in the US (in Texas),” the entrepreneur to the Wall Street Journal.
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Image source, Getty Images
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Musk bet on electric cars.
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Living in California “was not necessarily a good use of my time“he added.
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The drop that filled the glass
In May, Musk threatened to move to Texas after authorities in California prevented Tesla from reopening its facilities during the coronavirus pandemic.
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“Frankly, it’s the last straw,” he tweeted at the time.
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“Tesla will now move its headquarters and future programs to Texas / Nevada immediately. Maintaining Freemont, California’s manufacturing activity will depend on how Tesla is treated in the future,” he wrote at the time, though he fell short of his threat. .
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This Wednesday, Republican Senator Ted Cruz, who represents Texas, welcomed Musk in a message on Twitter: “Texas loves jobs and we are so happy to have you as a Texan.”.
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The truth is that there is growing discontent with Silicon Valley due to the high cost of living, the limited availability of housing and the high levels of crime.
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Last week Hewlett Packard Enterprise announced that it will move its offices to Houston, Texas. Its predecessor – the historic Hewlett-Packard – was created in a Palo Alto garage in 1938, a place known as the birthplace of Silicon Valley.
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Additionally, Palantir – a major data company – moved its offices from Silicon Valley to Denver, Colorado, this year.
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Image source, AFP
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Musk became the second richest man in the world in November.
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Musk compared California to a successful sports team: “They tend to be a little complacent, a little arrogant, and they don’t win the championship anymore.”
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“They have been winning for a long time and they think they have insured companies.”
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Texas can offer you to the second richest man on the planet some tax incentives.
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It does not collect income taxes, while California has one of the highest rates in the US.
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In late November, Elon Musk surpassed Bill Gates as the second richest person in the world, after the value of Tesla surpassed $ 500 billion.
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