Elon Musk is Considering Moving to Texas

According to CNBC, Mr. Musk shared with several people around him his wish to leave California for Texas, where his high-end electric vehicle company Tesla will be building a new factory and where his other companies, SpaceX and Company, already have premises.

Such a move could save the world’s second richest man on paper a lot of money as Texas does not collect income tax.

The entrepreneur had previously threatened to leave California in the spring, when local authorities forced his factory to remain closed for several weeks to prevent the spread of COVID-19.

The state of California now considers employees of the group to be essential workers and therefore exempts them from new restrictions that came into effect recently.

The investment bank Goldman Sachs has for its part started to identify places to settle in Florida and has therefore initiated discussions with local officials with the intention of transferring all or part of its management activity there. ‘assets, according to the Bloomberg agency.

But the prestigious firm, one of the flagships of American finance, which seeks to reduce its expenses, does not yet officially have “specific projects to announce for the moment”.

Florida has the advantage of not taxing income and offering sunnier weather than New York. With the flexibility offered by teleworking since the start of the pandemic, many financiers have, at least temporarily, settled there this year.

Goldman Sachs would not be the first large financial institution seduced by the assets of the State: the Elliott Management fund has already planned to move its headquarters from New York to West Palm Beach, while investment firms Blackstone and Citadel have there increased their presence, Bloomberg recalls.

Reviewer overview

Elon Musk is Considering Moving to Texas - /10


0 Bad!