SpaceX owner and Tesla CEO Elon Musk poses when he arrives on the red carpet for the Axel Springer Awards in Berlin on December 1, 2020.
Britta Pedersen | AFP | Getty Images
Elon Musk said Tuesday that while SpaceX and Tesla have major activities in California today, he personally moved to Texas.
“If a team has won too long, it gets a little complacent, a little justified, and then doesn’t win the championship. California has won too long,” Musk told the Wall Street Journal CEO Council Summit, repeating an analogy that he has used it many times to express his displeasure with the regulatory environment in California.
When Musk was asked directly if he had moved from California, he preceded his answer. “First, Tesla and SpaceX have apparently massive operations in California. In fact, it’s worth noting that Tesla is the last automotive company to make cars in California. SpaceX is the last aerospace company to have significant manufacturing facilities in California,” said he “So. California used to have over a dozen car factories. And California used to be the center of the aerospace industry! My companies are the last two left … That’s a very important point.”
Then he confirmed, “I moved to Texas for myself.”
CNBC reported last week that Musk told friends he was moving to Texas and was already spending time there.
Musk, the second richest person in the world behind Amazon’s Jeff Bezos, spends most of his time in Texas between Austin, where Tesla and its tunnel start-up Boring Company operate, and a coastal village called Boca Chica, which has a SpaceX facility is located. SpaceX went live in Texas in 2003.
The move makes Musk part of a broader tech exodus from Silicon Valley that sees many executives and venture capitalists moving to Texas. It could also save Musk billions of dollars in taxes.
This is a developing story. Please try again.