Billionaire Elon Musk Has announced his leaving Silicon Valley And Predicts The Tech Hotspot Would Soon Lose It's Influence
Billionaire Elon musk Made a statement that "California had too much power yet it's Influence in the world yet it's power is wanning"
Telsa the most valuable auto- mobile maker is correctly valued at $500bn ( £362bn ).has its headquarters in California. But according to new updates and plans it seeks to build it's new factory in Austin.
Elon Musk spaceship company Space X already has some facilities built in Texas
Elon musk also informed the wall street journal that the "two big things that he has going are the the star ship development that is taking place at the south of Texas and a new US Telsa factory that is being built . Mr Elon musk went on to add living and spending time in California wasn't actually a great use of his time.
Remember, in May Elon musk threatened to move Tesla Company from California to Texas after he was engaged in a heated argument with California local officals when he decided to open the factory despite the threat of Covid-19
Elon musk went on Twitter and twittered "Frankly this act is my final straw"
Telsa will now move it's HQ from California to Texas and will immediately withdraw from working and doing any works in California and shall be independent and the Future of how it does it's works shall be different as well.
Republican Senator Ted Cuz should gratitude and welcomed Elon Musk in a Twitter he said "We at Texas love Jobs, and would gladly work with you, we are proud to welcome you as a Texans."
Silicon Valley at the moment is facing a lot of issue for instance there is growing cost of living , in addiction power housing .
Last week, a business focused tech firm Hewlett Packard Enterprises made a choice to also depart from the premise to settle in Texas as well. Leaving beloved Silicon Valley due to its hostile environment on businesses
Another firm called Palantir which is a leading data tech firm also made a similar decision of moving from Silicon Valley to reside in Coronado, This year.
Mr Elon musk , Described California like a Sports team saying , They are good, they get excited , and in their pride they don't win championships any more.
"They had been winning for a long time but I guess now they are taking firms for granted" he added .
Moving to Texas Elon Musk might also get some Texas benefits since Texas does not collect income taxes while California collects the highest income taxes in The whole of the United States of America
Last month, Elon Musk become the world second richest person when he added $7.2bn to his net worth making him reach $128bn after Telsa shares increased.
The only man that is above Elon Musk when it comes to having more money is Amazon CEO Jeff bezzo and that's according to Bloomberg Billionaire index list