Tesla and SpaceX CEO Elon Musk is Texas' latest California transplant.
Musk confirmed his relocation in an interview with the Wall Street Journal on Tuesday, speaking from South Texas.
"For myself, I have moved to Texas," he told the newspaper.
Tesla CEO Elon Musk said he has moved to Texas, becoming one of the highest-profile executives yet to leave Silicon… https://t.co/GDYOnV9S5y— The Wall Street Journal (@The Wall Street Journal) 1607459877.0
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 Texas—as reasons for the move.
"California is great," he told the Journal, adding that Tesla and SpaceX continue to manufacture in the state despite the exodus of most other car and aerospace companies.
So what pushed him out?
"I do think that there is something that happens … if a team has been winning for too long," he said during the interview. "They do tend to get a little complacent, a little entitled, and then they don't win the championship anymore. So California's been winning for a long time."
Musk's announcement arrives after months of speculation.
Earlier this 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.
@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
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. If Musk does move, he could potentially save billions of dollars in taxes on his Tesla compensation package.
In moving to Texas, the billionaire follows many of his companies—including Neuralink and the Boring Company, in addition to Tesla and SpaceX—in planting roots in the Lone Star State.
Now that Musk has confirmed his move, many are wondering: where in Texas has he settled?
Austin, with its forthcoming Tesla Gigafactory and bevy of celebrity residents, could make him feel right at home.
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Now’s your chance to see a Spurs game without a trip to San Antonio.
The 2022-23 NBA schedule has been released and it includes the “I-35 Series,” with two games at The Moody Center April 6 and April 8. For the first game, the Spurs will be playing the Portland Trail Blazers and the next will be against the Minnesota Timberwolves.
Season ticket holders can secure their seats on Sept. 21 and all other tickets will go on sale Sept. 28.
It's here y'all! Our #Spurs50 anniversary season is set 🗓
MORE: https://t.co/1FJbFOmVpx pic.twitter.com/5Ic8gu1cx4
— San Antonio Spurs (@spurs) August 17, 2022
The Spurs already have a significant Austin presence both through their minor league affiliate, the G-League Austin Spurs, and its ownership, which announced Austin billionaire Michael Dell as a new “strategic partner" in June 2021. You'll also see a new logo on this season's jersey: Austin-based fin-tech company Self Financial.
During a May Bexar County commissioner's meeting, The San Antonio Spurs were approved in a 3-2 vote to move some of its games out of San Antonio and its current home stadium, the AT&T Center. The plan came as a way to boost revenue and cater to its far-reaching fan base.
By the 2023-2024 season, two games will be allowed within 100 miles of AT&T Center as part of the two-year "pilot program.” Bexar County Judge Nelson Wolff said those games could take place in the Alamodome or San Marcos but that Austin would likely be the top contender.
The multi-purpose stadium in San Antonio has a 65,000 capacity, which the team says could allow them to break an attendance record for an NBA regular season game.
While some have taken their coming Austin games as a sign of a future move for the Spurs, the team was quick to shut down those rumors.
The team, which is celebrating 50 years in San Antonio after relocating from Dallas, said it is not looking for an exit but made the plans for games in other cities after stumbling sales amid the pandemic.
While average home attendance plummeted to 27th among the 30 NBA teams this season, the team has a pricey non-relocation agreement through the 2031-2032 season and has recently embarked on a $500 million mixed-use facility in San Antonio's La Cantera area.
The Spurs will also have a game in Mexico City on Dec. 17 and a Jan. 13 game at the Alamodome. Tickets for those go on sale Sept. 10 and Sept. 1, respectively.
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