Elon Musk Leaving California And Is Now A Texas Resident
In an interview with The Wall Street Journal on Tuesday, Elon reported that the move made sense, amid plans underway for a new Tesla factory in the Austin area.
In revealing his departure from California, the 49-year-old tech executive also took aim at the state and said it has taken innovators for granted with strict regulations that stunted opportunity for growth.
“You have a forest of redwoods and the little trees can’t grow,” in the interview, which took place during the Wall Street Journal’s annual CEO Council Summit, Musk said, "California has been winning for a long time, and I think they’re taking it for granted."
The Tesla CEO also suggested the Silicon Valley may be declining in relevance in the tech world. “I think we’ll see some reduction in the influence of Silicon Valley,” he mentioned.
Elon's move away from Cali appeared to have been in the works for awhile. Earlier this year, Tesla announced its plans to build a new car plant in Texas, scheduled to start production next year.
In May, Elon threatened to move the company’s operations out of California, amid COVID-19 shelter-in-place rules that forced its Fremont his plant to shut down. He also filed a lawsuit against Alameda County, which eventually got dropped after resuming production.
Also in May, when he may have hinted at his exit from the Golden State, where he's resided for some two decades. On Twitter he wrote that he's selling almost all of his physical possessions and “Will own no house.” He later put four Los Angeles mansions and his Hillsborough estate on the market.
Elon recently spent a lot amount of time in Texas, where his rocket company, SpaceX, conducts operations.
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