Elon Musk said he is moving the headquarters of two more of his companies - social media platform X and rocket company SpaceX - to Texas from California, citing a new gender-identity law there as the "last straw."

Texas

Elon Musk has announced plans to move the headquarters of two of his companies, social media platform X and rocket company SpaceX, from California to Texas. Musk cited a new California gender identity law as the tipping point for his decision. 

Musk, who has a transgender daughter, noted that the move was driven not just by the latest law but also by a series of previous legislations he feels have negatively impacted families and businesses. This relocation follows his previous decision to move Tesla's headquarters and his own residence to Texas in 2021.

Musk recently endorsed Republican Donald Trump for president, and some analysts see the timing of his announcement as politically motivated, coinciding with the Republican National Convention. Over the past few years, Musk has become more vocal about his political views, often criticizing the Biden administration and Democratic positions on issues like transgender rights and immigration.

SpaceX's main office will move to an existing facility in Boca Chica, Texas, while X's headquarters will relocate to Austin. However, it remains unclear how many jobs or facilities in California will be transferred to Texas.



Elon Musk to move SpaceX, X headquarters to Texas

Elon Musk said Tuesday he will move the headquarters of social media platform X and rocket company SpaceX from California to Texas. The billionaire cited a new California gender identity law as the quote final straw. Musk, who has a transgender daughter, added the move was spurred by the law and the quote many others that preceded it, attacking both families and companies. With these steps, the world's richest man will have relocated Tesla and most of his companies to Texas. He changed his own residence in 2021 from California to Texas, where there is no state income tax on individuals. Musk last week endorsed Republican Donald Trump for president. Wedbush Securities Managing Director Dan Ives said there's nothing random about the timing. I think it's political. I mean, it's happening during the Republican National Convention. Musk clearly put his support behind Trump. In other words, we're going to see more and more of this from Musk, especially as we get toward November. And as we all know, it must go to the beat of a different drum and he's not going to stay quiet. To some extent, might even get louder. Musk in recent years has become outspoken on politics. He often criticizes the Biden administration and Democrats positions on issues including transgender rights and immigration. California voters have historically supported Democratic candidates, while Texas is considered a reliable Republican stronghold. Musk said SpaceX's main office would move to an existing facility in Boca Chica, Texas, while X would move to Austin. But the extent to which jobs or facilities in California will transfer to Texas was unclear.

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