Elon Musk
Tesla boss moves to Texas and criticizes California
Elon Musk leaves California.
© Xavier Collin / Image Press Agency / ImageCollect
Elon Musk has moved to Texas to focus on two major projects. The Tesla boss can also expect tax benefits there.
Entrepreneur Elon Musk (49) left California and moved to the US state of Texas. There he wants to concentrate on two large projects of his companies: the new rocket from SpaceX and the new Gigafactory from Tesla Inc., which is currently being built in Austin. The Tesla boss also expects tax advantages there.
Because Texas has no income tax, while California imposes some of the highest income taxes in the country on its wealthiest residents. For the South African, who recently became the second richest person in the world behind Amazon boss Jeff Bezos (56), this could have enormous tax implications.
Elon Musk: Criticism of California
"I moved to Texas," Musk said in an interview with the Wall Street Journal. He did not reveal where or whether he bought a house there. In the interview, the 49-year-old also criticized California. Musk has lived and worked in the Los Angeles area for two decades. SpaceX is based in nearby Hawthorne, Tesla in Palo Alto and San Francisco Bay.
"If a team has won too long, it tends to become a little complacent. And then it doesn't win the championship anymore," said Musk about the economically strongest US state in the "WSJ". "California won a long time. And I think they take that for granted." In the spring, Musk got into an argument with the California authorities. The corona restrictions had led to a Tesla plant being closed for several weeks.