Several of Musk’s close friends and associates learned that he had decided to move to Texas, CNBC reports. Now the businessman officially lives in California, where there is the highest income tax in the United States. He’s not in Texas
Photo: Jae C. Hong / AP
Tesla and SpaceX founder Elon Musk told several of his close friends and associates that he plans to move from California to Texas, CNBC reports.
According to him, Musk has been to Texas a lot lately. He spends most of his time in the Austin state capital, where Tesla and its startup Boring Company are located, and in the coastal town of Boca Chica, where the SpaceX facility is located.
Musk’s main residence is now in Los Angeles. Tesla is based in Palo Alto, and the Californian city of Hawthorne is listed as the primary SpaceX address.
At the same time, California has the highest income tax in the United States, and moving out of the state “could save Musk billions of dollars,” notes CNBC. In Texas, the tax rate is zero.
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