Tesla CEO Elon Musk has told friends and associates he plans to move to Texas

PUBLISHED FRI, DEC 4 20202:00 PM EST
UPDATED FRI, DEC 4 20205:40 PM EST

KEY POINTS

• Musk said in May that he was selling all his houses and then proceeded to list his California properties. Friends and associates say he’s told them he’s moving, although there’s no record of a change in residence yet.
• Elon Musk’s pay package from 2018 means he’s getting significant stock awards based on Tesla’s market cap increases and hitting financial targets.
• Texas has no state income tax, while California’s is the highest in the country