Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Elon Musk to move SpaceX and Twitter headquarters to Texas

Elon Musk to move SpaceX and Twitter headquarters to Texas

Cryptopolitan2024/07/16 23:55
By:By Jai Hamid

Share link:In this post: Elon Musk is moving the headquarters of SpaceX from California to Texas, citing frustration with California’s laws and regulations. The social media platform X (formerly Twitter) will also relocate from San Francisco to Austin, Texas. Musk endorsed Donald Trump for re-election and dismissed claims about his large donations to America PAC as false.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the in

Elon Musk just announced a major shakeup. He’s moving the headquarters of SpaceX and X (formerly Twitter) to Texas. Musk pointed to a new California law signed by Governor Gavin Newsom.

The law stops schools from making teachers tell parents if their kids change their gender identity.  Musk called this law “the final straw.” He warned Newsom that such laws would drive families and businesses out of California to protect their kids.

SpaceX will move its base from Hawthorne, California, to the Starbase facility in Boca Chica, Texas. X, currently in San Francisco, will head to Austin.

Source: X.com

Musk’s relationship with California has always been rocky. He often complains about what he sees as too much government interference. Back in 2020, during the COVID lockdown, he moved Tesla’s headquarters from Palo Alto to Austin. 

He called the restrictions in the Bay Area “fascist” after they forced Tesla’s Fremont factory to shut down. Musk has also slammed California for being slow with innovation and dragging its feet on public projects due to overregulation. 

He’s not a fan of the crime and drug issues in San Francisco either, saying these problems make it hard for him to visit X’s office. He’s tangled with local politicians, saying the city is stuck in a “doom loop.”

SpaceX’s headquarters in Hawthorne, California. (Image credit: SpaceX)

But Musk hasn’t completely abandoned California. He still taps into Silicon Valley for its tech talent, especially for his AI and engineering projects.

However, the appeal of Texas is strong, with its lack of state income tax and capital gains tax making it a hotspot for high earners like Musk and his employees.

Musk recently endorsed Donald Trump for re-election after the latter was injured in an assassination attempt at a campaign rally. Musk shared his support on X, saying, “I fully endorse President Trump and hope for his rapid recovery.”

There were also rumors about Musk pledging big donations to America PAC. The Wall Street Journal reported that Musk plans to give $45 million each month. Musk denied this report by posting a meme on X, calling it “FAKE GNUS.”

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!