Musk, frustrated with California laws, says SpaceX, X will move headquarters to Texas
2024.07.16 16:11
(Reuters) -Social media platform X Corp and rocket company SpaceX will move their headquarters to Texas from California, billionaire Elon Musk, who controls both companies, said on Tuesday.
A new California law that forbids school districts from requiring teachers to notify parents when a child changes gender identity or sexual orientation was one reason for the move, Musk said, calling it the “last straw.”
“Because of this law and the many others that preceded it, attacking both families and companies” Musk said posts on X in explaining the decision.
Musk in February moved SpaceX’s incorporation from Delaware to Texas, after a Delaware judge invalidated his $56-billion compensation plan at his electric vehicle company Tesla (NASDAQ:).
SpaceX has a sprawling headquarters just outside Los Angeles where employees build and test rocket engine components, spacecraft and satellites.
Musk in 2021 moved Tesla’s headquarters to Texas, though California remains its engineering hub.
The move out of California comes days after the CEO of Tesla publicly endorsed Donald Trump in the U.S. presidential race.
