Austonia daily newsletter—direct to your inbox 6 a.m.
Join the 250,000+ others who rely on Austonia for local news, info and fun
×
(Bob Daemmrich)
Tesla CEO and recent Texas transplant Elon Musk has surpassed Amazon CEO Jeff Bezos to become the wealthiest person in the world, according to Bloomberg's Billionaires Index.
"How strange," the South African entrepreneur tweeted on Thursday in response to the news.
@teslaownersSV How strange— Elon Musk (@Elon Musk)1610033547.0
Musk is now worth $188.5 billion, compared to Bezos' $187 billion, thanks to Tesla's rising stock prices, which have increased nearly 750% since 2019.
As a result, Musk's net worth has skyrocketed over the last year in what Bloomberg called "possibly the fastest bout of wealth creation in history."
Musk, who is also the CEO of SpaceX, Neuralink and the Boring Company, announced last month that he had moved to Texas from California. Austin realtor Cord Shiflet confirmed to Austonia that Musk and his representatives have been touring area properties.
Musk cited his two biggest projects—the forthcoming $1.1 billion Tesla Gigafactory in Southeast Travis County and the Starship prototype that SpaceX is developing in South Tesla—as reasons for the move.
Last year, Musk chafed against COVID-19 regulations in the state of California, where Tesla operates a factory, and threatened to move the company's headquarters.
There is also the issue of taxes.
California has the highest income tax rate of any state in the country. Texas, on the other hand, has none. By relocating, Musk could save potentially billions of dollars in taxes on his Tesla compensation package.
Assuming the five-county Austin metro has a median annual income of $71,576 and a population of 2.23 million people, as reported by the U.S. Census Bureau, Musk's net worth is greater than the annual income of the entire metro population.
More on Elon Musk:
Elon Musk tells friends he is moving to Texas. Could he land in Austin?
From Your Site Articles
- Oracle moves headquarters from Silicon Valley to Austin - austonia ›
- Austin's four richest self-made women in America, Forbes - austonia ›
- 8 Austin billionaires make a return to the Forbes 400 list - austonia ›
- Elon Musk announces Austin Gigafactory will open in 2021 - austonia ›
- What billionaires like Elon Musk look for in Austin real estate - austonia ›
- 2020 was "unprecedented" and 2021 hasn't been much different - austonia ›
- New York City comedy club The Creek & The Cave moves to austin - austonia ›
- Austinites hop on meme stock AMC with hopes of big gains - austonia ›
- Why Austinites pay a higher income tax rate than Elon Musk - austonia ›
- 5 reasons Austinites love to hate Elon Musk - austonia ›
Related Articles Around the Web
Popular
If the FDA approves emergency use authorization of its COVID vaccine for kids, those 5 years and older will all be eligible for a shot. (Pexels)
With 2.9 million Texas children in this age group, state health officials say this is a "big factor" in reducing the virality of COVID. At a Monday press conference, the Texas Department of State Health Services released info on the rollout efforts of the vaccine for children.
Here are some of the answers to your questions.
When and where will it be available?
St. David's Healthcare staff unpack the first few shipments of its initial supply of the COVID-19 vaccine on Thursday.(St. David's Healthcare)Assuming the FDA approves this version of the Pfizer vaccine this week, vaccines will start shipping out almost immediately with the first vaccines for children likely available next week.
DSHS has already put in an order of vaccines under the federal government's "pre-order prior to launch" program.
COVID vaccine providers will begin receiving those first shipments 1-5 days after the approval. After Monday night, DSHS will have put in three different orders for vaccines. The second shipment will arrive 3-7 days after approval and the third shipment will take place 5-9 days after the approval.
The Center for Disease Control and Prevention will meet on Nov. 2 and Nov. 3 to discuss best practices for administration, allowing for the first shots to be administered after.
The state will be allocated 1.3 million doses across 814 providers in 120 counties. Individual county allocations have not been released but each county got to send a request for how many doses they may need. Federal retail pharmacies, such as H-E-B and Walgreens, are getting their own shipments.
The health department advises using its vaccine finder tool to find the nearest vaccine provider near you.
How is this version of the vaccine different than the first one?
Abbott says COVID vaccine to be available to other groups by end of MarchThe COVID vaccine for 5-11-year-olds is one-third of the dosage of the current vaccine available to those 12 years of age and older.
It is being identified as the orange cap vaccine, unlike the current purple cap. The purple cap vaccine cannot be administered to younger kids, according to the state health department.
And like the current vaccine, it is 95% effective. The first and second doses are the same and will be advised to be taken 21 days apart.
What are the side effects for children?
During clinical trials, it was reported that some kids in this age group felt pain at the injection site, fatigue and headaches.
The data submitted to the FDA shows no serious complications, such as cases of myocarditis inflammation of the heart muscle, or pericarditis, inflammation of the outer lining of the heart—rare complications that have been reported among young boys and men receiving the vaccine in other trials.
How will this affect herd immunity?
With so many children across the state, DSHS said "we need to have as many people vaccinated as possible."
State health officials said the herd immunity threshold is still being looked into, but with 3 million children soon to be able to get the vaccine, it will be a big factor in reducing the viral load in the state.
"Until we're able to add all the children, we'll see a bigger wave in stamping down the pandemic," DSHS' Imelda Garcia said during the conference.
Of those 12 and older, 72% are fully vaccinated in Travis County as of Monday.
I'm not sure if my child needs this vaccine. Why should I have them get it?
DSHS says this vaccine is important for young kids because it will protect the older population and others around them as well as themselves. The department says to ask experts and doctors questions if you are hesitant so you can be confident with your decision.
Northwest Arkansas is urging Austinites to move once again with a free one-way ticket giveaway. (Laura Figi/Austonia)
OZ Brands is the latest NW Arkansas organization to entice Austin residents to pack up and make the move. The company, which is named after the area's Ozark Mountains, promotes travel, trails and art within the region and is owned by Runway, a NW Arkansas business investment group. Runway is headed by Walmart founder Sam Walton's grandsons, Steuart and Tom Walton.
OZ is targeting Austinites with the "One Way Out" giveaway, a program that will give at least 10 Austinites a one-way Allegiant ticket from Austin to the Northwest Arkansas National Airport.
"Fall is the perfect time to visit and explore the natural beauty of the Ozarks," the program's website reads. "Why just one way, because once you're here, you won't want to leave!"
Why swap cosmopolitan Austin for NW Arkansas' forest-filled hideaway? Just like other local programs including the Greater Bentonville Chamber of Commerce and the NW Arkansas Council, OZ Brands is looking to capitalize on priced-out Austinites who may not be pleased with the region's unprecedented growth.
"It's okay, Austin, we get it. You're tired of the tourists, the traffic, the hassle," the website says, escalating to an all-caps message reading, "YOU NEED A BREAK, AND WE ARE HERE TO GIVE IT TO YOU."
OZ is far from the first program to offer financial incentives to move to the area. Ads for Greater Bentonville began cropping up on the feeds of Austinites weeks ago as they promoted their annual tech summit, while the NW Arkansas Council rolled out similar ads. Instead of "Austin City Limits," the organizations promised "Bentonville City Limitless." If you "wish you'd bought in Austin 10 years ago," the Council promises that the area is perfect for you.
The Greater Bentonville Chamber of Commerce and NW Arkansas Council have both made moves to bring Austinites to the region. (Greater Bentonville)
Like similar programs in the past, One Way Out "is an opportunity for Austinites who no longer feel at home in their own city to see for themselves the value and qualities of Northwest Arkansas ... It's for those living in the Texas city who feel the growing pains of Austin expanding beyond its limits," the company said in a press release.
The region has recently experienced substantial growth, moving to fourth on the U.S. News and World Report's list of 150 Best Places to Live in the U.S. in 2021-2022 and enjoying an influx of businesses, tech workers and startups tired of the West Coast's crowds and priciness. And with a great arts and culture scene, a lower cost of living and even a financial incentive to move to the area, talents like film producer Kristin Mann decided it was time to swap Austin for sunnier skies in Arkansas.
"I love (Austin) how it is now, don't get me wrong, but I've always fantasized about what it might have been like before it really exploded," Mann said. "And I feel like that's similar here...There's something really unique about this town, and it feels like there's something really exciting happening here."
The contest ends Oct. 29 and is open to anyone 18 and older that lives within 50 miles of Austin. Winners must book their trip within four months of the competition and finish the trip by May 1, 2022.
From Your Site Articles
- Austin and Boise share similarities w/ California migration - austonia ›
- Austin vs. Denver: Why both cities are millennial magnets - austonia ›
- Miami vs. Austin: Which Sun city will win the California tech-odus ... ›
- Charlotte vs. Austin: How the two rapidly growing Southern cities ... ›
- Austin leads Heartland metros in immigration, economic growth ... ›
- Northwest Arkansas is recruiting Austin's tech talent - austonia ›
- 'Reached your Austin City Limit?' Northwest Arkansas is poaching ... ›
Related Articles Around the Web
