The second wealthiest person in the world has told close friends and associates he is planning a relocation, CNBC reported on Friday.
Musk has chafed against COVID-19 regulations in the state of California, where he currently lives and operates a Tesla Gigafactory. Earlier this year, Musk reopened the electric automaker's Fremont factory in defiance of a county shelter-in-place order meant to curb the spread.
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, which has drawn many companies, including Apple, Amazon, Facebook, Google and Oracle in recent years.
If Musk does move, he could potentially save billions of dollars in taxes on his Tesla compensation package, which ties pay to certain milestones.
Musk recently surpassed Microsoft billionaire Bill Gates to become the second wealthiest person in the world, behind only Amazon's Jeff Bezos, according to Bloomberg's Billionaire Index.
Also adding fuel to the fires: Musk signed a letter of intent to sell his properties in Los Angeles over the summer, according to reports.
Musk has already threatened to move Tesla's headquarters out of California, either to Texas or Nevada, another state that does not levy a state income tax.
@GerberKawasaki @thirdrowtesla Frankly, this is the final straw. Tesla will now move its HQ and future programs to… https://t.co/IDLjEvXyDW— Elon Musk (@Elon Musk) 1589042677.0
If Musk does make good on his plans, he may land in Austin, where the latest Tesla Gigafactory is set to open this spring and where Joe Rogan, on whose podcast he has appeared multiple times, also recently moved his business.
His "Fitbit for your brain startup" Neuralink and underground tunnel venture The Boring Company are also hiring locally.
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Austin police have charged Kaitlin Marie Armstrong, a local cyclist, for the murder of Moriah "Mo" Wilson.
Wilson, a rising star in the gravel and mountain bike community, was found dead with gunshot wounds inside an East Austin home on the night of May 11 when she was in town for the weekend Gravel Locos race in Hico, Texas.
Police believe Wilson was having a relationship with a man Armstrong was also in a relationship with. The man, another gravel cyclist, Colin Strickland, has since issued a statement on the murder.
In his statement, he said he had a brief romantic relationship with Wilson in October 2021 before he resumed his relationship with Armstrong, but that he remained friends with Wilson. "There is no way to adequately express the regret and torture I feel about my proximity to this horrible crime. I am sorry, and I simply cannot make sense of this unfathomable tragedy.
NEW: Austin professional cyclist Colin Strickland has just released a statement about the murder of cyclist Moriah Wilson, clarifying his relationship with her and expressing “torture about my proximity to this horrible crime.” pic.twitter.com/KnIna3mWrE
— Tony Plohetski (@tplohetski) May 20, 2022
Wilson, a 25-year-old Vermont native living in Colorado, had won a slew of races becoming a fan favorite. She had just become a full-time racer this year.
Anyone with information on this crime can contact Austin police at 512-974-TIPS or contact Crime Stoppers anonymously at 512-472-8477.
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Austin has added 24-hour security to the city-owned Pecan Gardens property, which will be converted into supportive housing for people exiting homelessness, after the former hotel was found with months of damage and vandalism May 5.
The building, which was broken into and stripped of copper and had people illegally sleeping inside of it, has been secured, Kelly said in a Friday press conference. Kelly said the city confirmed a measure to implement 24-hour security, including updates every 60 days until the property opens up as supportive housing.
"We cannot let this happen to any vacant city-owned property ever again," Kelly said. "This blatant act of disregard and criminal behavior will not be tolerated in our community."
The city bought the former hotel in August 2021 for $9.5 million with plans to renovate the property into a 78-unit supportive housing property. Those 55 or older that are experiencing chronic homelessness can qualify to live at the site once it is completed in late 2022-early 2023.
While the council was set to discuss a $4 million deal with Family Eldercare to begin converting the property Thursday, Kelly pulled the item for a later executive session due to security concerns. But the council did approve an item to authorize city leaders to begin negotiating other renovation contracts.
"I want to thank my colleagues for pumping the brakes on this contract and realizing that we owe the community not only an apology, but reassurance that the protection of the assets the city owns is vital to the success of achieving our intended goals," Kelly said.
When the building was found vandalized May 5, Kelly, who presides over the district containing the property, said damage included:
- Damage spanning all three floors of the building and is in nearly every room.
- The entire hotel was stripped of copper.
- Destroyed washers, dryers, air conditioners and electrical wiring.
- People sleeping at the hotel without permission.
On Tuesday, Austin’s Homeless Strategy Officer Dianna Gray apologized and said there was no security due to a delay in processing the request.
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