According to CNBC, several of Musk’s close confidants say that the entrepreneur plans to formalize plans to move to the Lone Star State.
Billionaire Tesla and SpaceX CEO Elon Musk is reportedly gearing up to permanently decamp to Texas in an effort to take advantage of the Lone Star State’s lack of personal income taxes. According to CNBC, several of Musk’s close confidants say that the entrepreneur plans to formalize plans to move to the Lone Star State months after he first hinted that he planned to leave California, where he currently resides. Apparently, everything is bigger in Texas—including the local property tax breaks Musk reportedly received in July when he broke ground on a new Tesla factory that will produce Cybertruck, Model Y, Model 3, and Semi vehicles.
