Los Angeles Times
Elon Musk has moved to Texas to focus on two big priorities for his companies: SpaceX’s new Starship spacecraft and Tesla Inc.’s new Gigafactory, currently under construction in Austin.
There also are potentially enormous tax implications for Musk, who recently became the world’s second-wealthiest person. Texas has no personal income tax, while California imposes some of the highest personal income levies in the nation on its richest residents.
“I have moved to Texas,” Musk said Tuesday, speaking in an interview with the Wall Street Journal.
Musk criticized California in the interview, saying the state had become complacent with its status as an economic giant and less attractive to him.
“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,” he said. “California’s been winning for a long time. And I think they’re taking them for granted a little bit.”