- Elon Musk said Tuesday that while SpaceX and Tesla maintain major operations in California today, he has personally moved to Texas.
- CNBC reported last week that Musk intended on moving to the state and was already spending time there.
Elon Musk said Tuesday that while SpaceX and Tesla maintain major operations in California today, he has personally moved to Texas.
“If a team has been winning for too long, they do tend to get a little complacent, a little entitled and then they don’t win the championship anymore. California has been winning for too long,” Musk said at the Wall Street Journal CEO Council summit, repeating an analogy he has used many times before to express his displeasure with California’s regulatory environment.
When asked directly if he had moved away from California, Musk prefaced his answer. “First of all, Tesla and SpaceX obviously have massive operations in California. In fact, it’s worth noting that Tesla is the last car company still manufacturing cars in California. SpaceX is the last aerospace company still doing significant manufacturing in California,” he said. “So. There used to be over a dozen car plants in California. And California used to be the center of aerospace manufacturing! My companies are the last two left…That’s a very important point to make.”
Then he confirmed, “For myself, yes I have moved to Texas.”
CNBC reported last week that Musk told friends he intended to relocate to Texas and was already spending time there.
Musk, the world’s second-wealthiest person behind Amazon’s Jeff Bezos spends most of his time in Texas between Austin, where Tesla and his tunnel start-up Boring Company have operations, and a coastal village called Boca Chica, home to a SpaceX facility. SpaceX started operating in Texas in 2003.
The move makes Musk part of a broader tech exodus from Silicon Valley, with many executives and venture capitalists moving to Texas. It could also save Musk billions of dollars in taxes.
This is a developing story. Please check back for updates.