Tesla and SpaceX CEO, Elon Musk, revealed he has moved to Texas, the Wall Street Journal reported. Musk, so far, has become one of the highest-profile executives to have transferred to the lone star state.
After news about his move got out, Texas Senator, Ted Cruz, welcomed him through Twitter.
He tweeted, “Texas loves jobs & we’re very glad to have you as a Texan.”
Musk shared his recent move during the Wall Street Journal’s CEO Council Summit.
The Tesla executive has already been hinting about his move in his tweets. However, Musk explains he has a reason for doing it.
According to him, his move to Texas makes sense because Tesla is currently building its factory there.
During his interview with the WSJ, Musk also took a jab against California.
According to him, although California is great in some ways, COVID-19 is likely to decrease its “outsized influence in the world.”
In fact, many executives have already transferred their headquarters due to the changes the pandemic brought.
He also shared that California has “been winning for too long,” making it “a little complacent” and “a little entitled.”
During the interview, Musk also shared his opinion on the government’s role in supporting businesses.
According to him, the government should “just get out of the way.”
Although Musk has already moved to Texas, Tesla and SpaceX’s headquarters are still in California.
Musk is not the first executive from Silicon Valley who has decided to move to Texas.
In recent years, companies have been relocating to Texas because it’s a tax-friendly state.
In fact, companies such as Charles Schwab, McKesson, and PGA of America have all moved to Texas.
Moreover, there’s a chance 2021 will be Texas’s greatest year yet, Ed Curtis, CEO of YTEXAS, told Fox Business.
Curtis has been actively involved in the state’s economic development.
According to him, since 2018, around 74 businesses have already relocated their headquarters in Texas.