The 49-year-old has been suggesting for months that he could ditch the Golden State, and currently splits his time between LA and his SpaceX facilities in Texas.
Though he has now told friends and colleagues that he is preparing to make the move permanent, according to anonymous sources.
The CEO of Tesla and SpaceX has had a rough relationship with California for some time now.
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In the spring, he struggled with California legislators over coronavirus limitations which were blocking him from opening his Tesla factory in Fremont, near San Francisco.
In April he marked the lockdown rules as fascist and said: 'Give people back their goddamn freedom.'
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Soon afterward in May, he stated that he would move his Tesla offices to Texas or Nevada and started supposedly cozying up to Texas Governor Greg Abbott.
It seems like Abbot will happily welcome Musk as he tweeted the following words: “Elon Musk reportedly told friends he plans to move to Texas. Texas is the best state for business. Texas has no state income tax, while California’s is the highest in the country. It just got better because Texas made an income tax unconstitutional.”
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Musk has further been a critic of California's tax policies and insisted it had developed a 'winning-for-too-long problem' that was forcing out the super-rich.
the alleged moving came from several unnamed sources who claim to be aware of his plans to move – but don’t know where in the Lone Star State he plans to build his base.
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The entrepreneur, who overtook Bill Gates last month to become the world’s second-richest person after Amazon’s Jeff Bezos and is now worth an estimated $139billion, already has a strong presence in Texas.
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His SpaceX program has been located in Texas since 2003.
It operates out of the coastal village Boca Chica near Brownsville at a launch site known as Starship Production Complex.
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Tesla’s second auto-factory is due to open near Austin and his tunnel start-up, The Boring Company, is hiring in the state.
Boring Company investor Joe Lonsdale, a co-founder of Palantir and friend of Musk’s, recently moved to the Austin area from Silicon Valley.
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A move to Texas could save Musk billions of tax dollars based on his 2018 Tesla compensation package, which profits him when the company hits certain events.
Abbott further said Musk was building his next Tesla factory in the state because it would give him the independence to 'expand the way he wanted to expand.'
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