Bloomberg Tax
Dec. 8, 2020, 10:26 PM

Musk Relocates to Texas, Criticizes ‘Complacent’ California (2)

Dana Hull
Dana Hull
Bloomberg News

Elon Musk has moved to Texas to focus on two big priorities for his companies: SpaceX’s new Starship vehicle and Tesla Inc.’s new Gigafactory, currently under construction in Austin.

There also are potentially enormous tax implications for Musk, who recently became the world’s second-wealthiest person. Texas has no personal income tax, while California imposes the highest personal income levies in the nation on its richest residents.

“I have moved to Texas,” Musk said Tuesday, speaking in a live interview with the Wall Street Journal. Musk did not specify where or say if he has purchased property.

Musk, 49, ...

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