Tech billionaire plans to relocate his residence also from California to Texas in a move, widely interpreted as a strategic manoeuvre amidst Texas' reputation for its lack of state personal income tax — a contrast to California's higher tax rates.
Tech billionaire plans to relocate his residence also from California to Texas in a move, widely interpreted as a strategic manoeuvre amidst Texas' reputation for its lack of state personal income tax — a contrast to California's higher tax rates.Musk, who recently endorsed Donald Trump for US president, is moving most of his operations to Texas. / Photo: Reuters
Musk posted on X Tuesday that he plans on moving SpaceX from Hawthorne, California to the company's rocket launch site dubbed Starbase in Texas. X will move to Austin from San Francisco. "I did make it clear to Governor Newsom about a year ago that laws of this nature would force families and companies to leave California to protect their children," Musk wrote.Musk has also said that he has moved his residence from California to Texas, where there is no state personal income tax.
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