Elon Musk Announces SpaceX and X Headquarters Relocation to Texas

Money | July 17, 2024, 9:34 a.m.

Billionaire Elon Musk has announced plans to relocate SpaceX and his social media company X from California to Texas. Musk cited California's new law regarding parental notification of a child's gender identification change as the "final straw" leading to this decision. He had warned Gov. Gavin Newsom a year prior that such laws would drive families and companies away from the state. Musk himself has already moved his residence from California to Texas, attracted by the lack of state personal income tax. SpaceX currently launches its Starship rockets from the company's Starbase in Texas, near Boca Chica Beach, while Falcon 9 rockets are launched from sites in Florida and California. This move aligns with Musk's trend of relocating his companies to Texas, with Tesla having shifted its headquarters there in 2021.