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Elon Musk moves to Texas

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Re: Elon Musk moves to Texas

#851

Post by desert_boi »

dragonwriter wrote: post #710
muyuu wrote: post #705

Lots of denial in this thread. CA is the most negative State in net domestic migration and TX is second to FL only at the other end of the scale. https://en.wikipedia.org/wiki/List_of_U.S._states_and_territ... CA is just terrible value for most people currently. I'm not American and neither is Musk, it's not like he's going to make such decision for ideological allegiances. He just gets better value for his money els…

> CA is the most negative State in net domestic migration Sure, but mostly that's actually good for the state economically since while there is net domestic outmigration, its more than made up for by international immigration, and the gross domestic outmigration is lower on the economic scale than the gross domestic inmigration.

Let them eat Texan cake.

Re: Elon Musk moves to Texas

#852

Post by tyingq »

unnouinceput wrote: post #831

Quote: "With a net worth of $134.7B, Musk recently surpassed Bill Gates as the second-richest person in the world, and he's on track to earn more than $50 billion in stock options. If he remained in California, he’d be facing income taxes on the profits when he exercises them. In Texas, there is no income tax. " Rest is blah blah, this right there is the real reason for such a move. Can't blame the man either, I'll d…

No state income tax, but the property taxes in Texas are brutal. Typical sales taxes as well.

Re: Elon Musk moves to Texas

#853

Post by mixedCase »

thesausageking wrote: post #850
unnouinceput wrote: post #831

Quote: "With a net worth of $134.7B, Musk recently surpassed Bill Gates as the second-richest person in the world, and he's on track to earn more than $50 billion in stock options. If he remained in California, he’d be facing income taxes on the profits when he exercises them. In Texas, there is no income tax. " Rest is blah blah, this right there is the real reason for such a move. Can't blame the man either, I'll d…

I wouldn't. Being worth $120B Vs $150B isn't a material difference. At that level, I would say "California was good to me, I leveraged the ecosystem there and the state's generous tax subsidies for my product. I'm ok paying them what I owe."

So the state of California loaned him money and he hasn't paid it back? Otherwise he doesn't owe anything.

Re: Elon Musk moves to Texas

#854

Post by BobbyJo »

thesausageking wrote: post #850
unnouinceput wrote: post #831

Quote: "With a net worth of $134.7B, Musk recently surpassed Bill Gates as the second-richest person in the world, and he's on track to earn more than $50 billion in stock options. If he remained in California, he’d be facing income taxes on the profits when he exercises them. In Texas, there is no income tax. " Rest is blah blah, this right there is the real reason for such a move. Can't blame the man either, I'll d…

I wouldn't. Being worth $120B Vs $150B isn't a material difference. At that level, I would say "California was good to me, I leveraged the ecosystem there and the state's generous tax subsidies for my product. I'm ok paying them what I owe."

It really is when you're the kind of person who routinely builds multi-billion dollar companies. You're talking about capital for several more moonshots.

Re: Elon Musk moves to Texas

#855

Post by fredophile »

tyingq wrote: post #852
unnouinceput wrote: post #831

Quote: "With a net worth of $134.7B, Musk recently surpassed Bill Gates as the second-richest person in the world, and he's on track to earn more than $50 billion in stock options. If he remained in California, he’d be facing income taxes on the profits when he exercises them. In Texas, there is no income tax. " Rest is blah blah, this right there is the real reason for such a move. Can't blame the man either, I'll d…

No state income tax, but the property taxes in Texas are brutal. Typical sales taxes as well.

That's okay. After he makes his money he can move back to California and pay lower property and sales taxes.

Re: Elon Musk moves to Texas

#856

Post by credit_guy »

thesausageking wrote: post #850
unnouinceput wrote: post #831

Quote: "With a net worth of $134.7B, Musk recently surpassed Bill Gates as the second-richest person in the world, and he's on track to earn more than $50 billion in stock options. If he remained in California, he’d be facing income taxes on the profits when he exercises them. In Texas, there is no income tax. " Rest is blah blah, this right there is the real reason for such a move. Can't blame the man either, I'll d…

I wouldn't. Being worth $120B Vs $150B isn't a material difference. At that level, I would say "California was good to me, I leveraged the ecosystem there and the state's generous tax subsidies for my product. I'm ok paying them what I owe."

Two kids talking. "If you had 1 million, would you give me half? Yes. If you had a bicycle, would you let me ride it from time to time? Yes. If you had an apple, would you share it with me? No. But why? Because I do have an apple."

Re: Elon Musk moves to Texas

#857

Post by bhl »

thesausageking wrote: post #850
unnouinceput wrote: post #831

Quote: "With a net worth of $134.7B, Musk recently surpassed Bill Gates as the second-richest person in the world, and he's on track to earn more than $50 billion in stock options. If he remained in California, he’d be facing income taxes on the profits when he exercises them. In Texas, there is no income tax. " Rest is blah blah, this right there is the real reason for such a move. Can't blame the man either, I'll d…

I wouldn't. Being worth $120B Vs $150B isn't a material difference. At that level, I would say "California was good to me, I leveraged the ecosystem there and the state's generous tax subsidies for my product. I'm ok paying them what I owe."

I would think being a billionaire, there isn't significant difference in quality of life living in California vs. Texas either. The "I'm ok paying them what I owe" also overlooks the public spats on Twitter and with re-opening the Fremont factory which got shutdown because of covid.

Re: Elon Musk moves to Texas

#858

Post by synaesthesisx »

lhorie wrote: post #249
S_A_P wrote: post #158

Pretty interesting to see this move makes people so salty. There does seem to be a trend of people fleeing California, I dont know enough about the situation out there to comment on whether or not its valid. I suspect something must be going on for several high profile folks moving out. And before you bash Texas, its not perfect. But its pretty diverse, and it seems that folks with opposing viewpoints can still coexi…

FWIW, several youtube celebrities have also spoken about having moved out - or expressed serious interest in moving out - of CA. Most have deliberately stated that taxes are a major reason, but they also cite increase in homelessness (which has become particularly bad in LA and SF) and related safety concerns as factors (especially considering how said high taxes are supposed to go towards fixing these issues).

Several colleagues are planning on relocating because of the state’s incredible failure to handle homelessness and mental illness.

Re: Elon Musk moves to Texas

#859

Post by m463 »

unnouinceput wrote: post #831

Quote: "With a net worth of $134.7B, Musk recently surpassed Bill Gates as the second-richest person in the world, and he's on track to earn more than $50 billion in stock options. If he remained in California, he’d be facing income taxes on the profits when he exercises them. In Texas, there is no income tax. " Rest is blah blah, this right there is the real reason for such a move. Can't blame the man either, I'll d…

On mars there are no taxes of any kind.

Re: Elon Musk moves to Texas

#860

Post by m463 »

tyingq wrote: post #852
unnouinceput wrote: post #831

Quote: "With a net worth of $134.7B, Musk recently surpassed Bill Gates as the second-richest person in the world, and he's on track to earn more than $50 billion in stock options. If he remained in California, he’d be facing income taxes on the profits when he exercises them. In Texas, there is no income tax. " Rest is blah blah, this right there is the real reason for such a move. Can't blame the man either, I'll d…

No state income tax, but the property taxes in Texas are brutal. Typical sales taxes as well.

On the Joe Rogan podcast he has said he rents now.
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