Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Tesla's Elon Musk confirms Texas move from California, warns state on exodus

Tesla's Elon Musk confirms Texas move from California, warns state on exodus

Elon Musk threw at a dig at the state of California after confirming his move to Texas.

Elon Musk confirmed Tuesday that he has moved to Texas as he has grown increasingly frustrated with California and both Tesla and SpaceX now have a presence in the Lone Star State.

"For myself, yes, I have moved to Texas," he told Wall Street Journal editor in chief Matt Murray at a CEO Council Summit. "We've got the Starship development here in South Texas where I am right now. We're hopefully going to do a launch later today. And then we've got big factory developments just outside of Austin for Giga Texas as well."


Musk's comments come a day after it was revealed that he also moved the Musk Foundation -- which gives grants for renewable energy, space exploration, pediatric research, AI development, and science education -- from California to Texas.

Musk announced in July that Tesla is building a new 2,000 acre, $1.1 billion factory in Austin.



SpaceX also has a large presence in Texas with facilities in McGregor and Brownsville.

Musk compared California to a successful sports franchise that has gotten too used to winning.

"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. "So California has been winning for a long time, and I think they are taking it for granted a little bit."

Before confirming his move, Musk noted that other auto and aerospace companies have also left California.

Tesla and SpaceX obviously have massive operations in California. In fact, it’s worth noting that Tesla is the last car company still manufacturing cars in California. SpaceX is the last aerospace company still doing significant manufacturing in California," he said. "So, there used to be over a dozen car plants in California. And California used to be the center of aerospace manufacturing. My companies are the last two left."

Tesla Stock YTD +676%


Musk has seen his personal fortune balloon after Tesla's market value reached over $600 billion on Monday for the first time, joining a small list of S&P 500 companies in the category. The electric automaker will be added to the S&P 500 on December 21.

Musk is now the second richest person in the world with a net worth of $155 billion, according to the Bloomberg Billionaires Index.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

Bezos's Lavish Venice Wedding Sparks Local Protests
0:00
0:00
Open
Bezos's Lavish Venice Wedding Sparks Local Protests
0:00
0:00
Close
Bezos's Lavish Venice Wedding Sparks Local Protests
Europe Prepares for Historic Lunar Rover Landing
Italian Parents Seek Therapy Amid Lengthy School Holidays
British Fishing Vessel Seized by France Fined €30,000
Dutch Government Collapses Amid Migration Policy Dispute
UK Commits to 3.5% GDP Defence Spending Under NATO Pressure
Germany Moves to Expedite Migrant Deportations
US Urges UK to Raise Defence Spending to 5% of GDP
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Low Turnout Jeopardizes Italy's Citizenship Reform Referendum
Transatlantic Interest Rate Divergence Widens as Trump Pressures Powell
EU Lawmaker Calls for Broader Exemptions in Supply Chain Legislation
France's Defense Spending Plans Threatened by High National Debt
European Small-Cap Stocks Outperform U.S. Rivals Amid Growth Revival
Switzerland Proposes $26 Billion Capital Increase for UBS
Germany's Merz Signals Continued U.S. Reliance After Meeting with Trump
Trump Administration Issues New Travel Ban Targeting 12 Countries
Man Group Mandates Full-Time Office Return for Quantitative Analysts
JPMorgan Warns Analysts Against Accepting Future-Dated Job Offers
Builder.ai Faces Legal Scrutiny Amid Financial Misreporting Allegations
Japan Grapples with Rice Shortage Amid Soaring Prices
Goldman Sachs Reduces Risk Exposure Amid Market Volatility
HSBC Chairman Mark Tucker to Return to AIA as Non-Executive Chair
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Judge Blocks Trump's Ban on International Students at Harvard
Trump Proposes Travel Ban on 'Uncontrolled' Countries
Global News Roundup: From Ukraine's strategic military strikes and Russia's demands and Tensions Escalate in Ukraine, to serious legal issues faced by Britons in Bali and Trump's media criticism, the latest developments highlight a turbulent landscape
Majority of French Voters View Macron's Presidency as a Failure
Hungary Partners with China to Boost Electric Vehicle Production
‘Vibe Coding’ Emerges as the New DIY Trend
AI Pioneer Yoshua Bengio Warns Models Can Deceive Users
Big Four Firms Rush to Create AI Auditing Systems
Musk’s xAI Pursues $113 Billion Valuation in New Share Sale
Walmart Increases Revenue Despite Shrinking Workforce
Hims & Hers Plans UK and EU Launch of Replica Obesity Drugs
Toyota to Acquire Supplier in $33 Billion Buyout
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
BlackRock-Backed Fintech Aims to Become Europe’s Charles Schwab
China Accuses US of Violating Trade Truce
Europe's Strategic Push to Challenge Dollar Dominance
Iran Warns Europe Against Politicizing UN Nuclear Report
France Implements Nationwide Outdoor Smoking Ban to Protect Children
Macron Lightheartedly Addresses Viral 'Shove' Incident in Indonesia
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
Dutch government falls as far-right leader Wilders quits coalition
Macron and Meloni Seek Unity Despite Tensions
Newark Mayor Sues Over Arrest at Immigration Facility
×