Why did Elon Musk move to Texas? Where is he living now? Read details

Owner of major tech companies like X and Tesla, Elon Musk has a huge fan following and w, many of his fans are worried about he has decided to move out from California. news has taken internet by  storm. However, as per star entrepreneur, he has two key reasons why he chose to leave California. Here is all you need to kw about why he moved out, what will benefit him and where will he be staying w, have a look.

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Why did Elon Musk move to Texas?

It is t a mystery that Elon Musk h problems with regulations passed during pandemic lockdown which h shut his factory near San Francisco, California. According to a report by Wall Street Journal, Musk said relocating me sense with Tesla’s new factory being built in Texas. He also stated ar reason for leaving Silicon Valley, California is that Texas has several invator-friendly policies.

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However, even after Elon Musk decided to move from Silicon Valley to Texas, companies formed by entrepreneur will continue to maintain its extensive operations in California. One must also te that Musk's decision will present him with various personal benefits such as state does t collect state income or capital gains tax for individuals. auto executive qualified this year for billions of dollars in stock-option compensation as part of a pay-pack agreement, making him second-richest person in world. 

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Where does Elon Musk live in Texas?

Elon Musk has moved out from Silicon Valley in California and shifted to Texas. According to a report by New York Times, second richest person in world has found a good place in Austin, Texas where he will be residing from w. This may also affect growth of state positively looking at Elon Musk's net worth which is $128 billion, as of vember 2020. Moving out means that Musk is going to focus more on Tesla’s new electric car plant and his X venture leaving behind California’s ecomic environment which he has been criticising for a long time.

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