Rumors of Tesla & SpaceX CEO and the world’s 3rd richest person Elon Musk’s relocation to Texas have been confirmed by none other than by himself. Talking to WSJ Editor-in-Chief Matt Murray he briefly explained the reasons behind this move.
In the meantime, Elon Musk posted a tweet that signaled his farewell to Silicon Valley, he also thanked for all of the success he had garnered here over the years.
Musk’s discontent with the policies of the government of California, especially the Alameda County became clear in the early days of the COVID-19 pandemic. Tesla even sued Alameda County at the time for not letting the factory re-open with the extensive employee safety SOPs in place.
Elon Musk has also sold several of his homes in Los Angeles including the house of late actor Gene Wilder. Musk had a property portfolio worth more than $100 million in LA, some of these are still on sale.
According to his short interview with WSJ yesterday, he has two main objectives in moving to Texas. The development of Starship which is going on in Boca Chica, South Texas, and the next Tesla US Gigafactory going under fast development in Austin, Texas (latest drone video below).
He also mentioned that his companies, Tesla and SpaceX has still major operations in California. Probably the Tesla / SpaceX HQ will remain in California for the foreseeable future but earlier this year Elon threatened to move Tesla HQ to Texas but the situation neutralized in the following weeks.
His move to Texas at this time also makes sense as SpaceX Starship and the Tesla Cybertruck which will be built at Gigafactory Austin, are the two most exciting and important projects for him right now. Tesla Model 3 and Model Y production at the Fremont Factory California has streamlined for the most part and must have been a boring task for Musk.
The third important task on his to-do list as he explains in this interview is Gigafactory Berlin. He plans to regularly visit Germany and keep up with the development of this huge Tesla car manufacturing facility.
Just on this past weekend, he even slept at the under-construction Giga Berlin site, to monitor the progress and give motivation to the engineers and workers. On an earlier visit to Giga Berlin, he personally recruited and interviewed 25-guns (top engineers) to tackle the problems at the site.
By moving to Texas, Elon Musk’s complaints of traffic jams from work to home and vice versa will also be relieved significantly. With the huge number of capital gains from his billion-dollar pay package from Tesla and selling off his properties, Texas is the right place to be with relaxed laws around State income tax and Capital-gains tax.
Hopefully, with Elon Musk‘s move to Texas, the Starship and Cybertruck production plans will move more valiantly into their next phases.