Capital Economy, Business and Finance
When Elon Musk throws toys out of his jet-fuelled pram, there’s always a risk that reporting on it will encourage him to do it again. But for good or ill Musk’s wealth and proximity to the man likely to be the next US president make his every move newsworthy nowadays, and his claim to be moving X and SpaceX from California to Texas is noteworthy in its own right – for two reasons. First, he claims to be doing this out of exasperation with a new California law preventing schools telling parents if their children are changing their gender identification. That may be part of it, but there’s no doubt he’s also attracted by the absence of state income or capital gains tax in Texas. His net worth is currently around $250 billion. Second, is he really doing this? Silicon Valley is still in Silicon Valley. It incubated him. It’s home to many of his friends. And he can afford the taxes. In any case, it’ll be easy to see how he divides his time. His Gulfstream’s call sign is N628TS and it’s tracked on most media platforms, including X.
