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Tesla shareholders Elon MuskThe world’s richest man, who sided with the company in a vote to reincorporate it in Texas last month, struck a hopeful tone: “I don’t think we’re just opening a new chapter. Teslastarting a new book.”
Musk is hoping his staff will once again back his latest epiphany: On Tuesday, he said he was ready to move the headquarters of his other two companies, SpaceX and SpaceX, from California to Texas.
In his X post, he claimed the trigger was California’s passage of a new gender identity law on Monday that attacks “both families and businesses,” but it’s clear Musk’s departure from California has been planned for some time.
Plans emerged this month for X to sublease its San Francisco offices. Broader concerns about “violent crime” The situation in the city has been weighing on Musk’s mind for more than a year.
Musk has already put this plan into action, moving Tesla’s headquarters from California to Austin in 2021, but he also aims to establish Texas as Musk Country by moving two other major companies there as well.
Musk is betting other companies will follow suit. X Post In response to venture capitalist Jason Calacanis posting that he was “ditching California” for the same reasons Musk gave, Musk confidently asserted that “a lot of people will follow him to Texas.”
Of course, Tesla’s CEO already knows that his shareholder base is extremely enthusiastic about Texas.
More shareholder votes According to a chart shared by Musk about shareholder resolutions filed at Tesla’s annual meeting last month, the topic of the electric car maker’s reincorporation in the state received more responses than the decision on Musk’s multi-billion-dollar compensation package.
Musk has also seemed to have success rallying people to other causes recently: Following his scathing comments on X in support of Republican presidential candidate Donald Trump, some tech industry leaders have doubled down on his support for Trump.
The Wall Street Journal reported that Musk will be donating about $45 million per month to pro-Trump political action committees, and that other tech leaders, including Marc Andreessen and Ben Horowitz, are preparing to make similar donations.
But it remains to be seen whether Musk can rally others to follow his company to Texas in the long term.
While some tech companies have chosen to relocate to Texas during the pandemic, there are signs of growing discontent among employees who are finding places like Austin struggling to meet the lofty expectations of post-Silicon Valley life.
Meanwhile, other tech companies like Oracle have decided to do the opposite: The Larry Ellison-led tech giant moved its headquarters from Redwood City, California, to Austin in 2020, but announced in April that it would move back to Nashville.
Ellison, who ranks seventh on Bloomberg’s list of billionaires with a net worth of $158 billion, chose Nashville because it’s a “great place to live,” to raise a family and because of his big involvement in the health care industry, in which Oracle is an investor.
Only time will tell if Musk follows through on his vow to move SpaceX and SpaceX south, but if he doesn’t, it wouldn’t be the first time Musk has said one thing and done another.
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