Young Research & Publishing Inc.

Investment Research Since 1978

Disclosure

  • About Us
    • Contributors
    • Archives
    • The Final Richard C. Young’s Intelligence Report
    • You’ve Read The Last Issue of Intelligence Report, Now What?
    • Dick Young’s Research Key: Anecdotal Evidence Gathering
    • Crisis at Vanguard
  • Investment Analysis
    • Bonds
    • Currencies and Gold
    • Dividend Investing
    • ETFs & Funds
    • Investment Strategy
    • Retirement Investing
    • Stocks
    • The Efficient Frontier
  • Investment Counsel
  • Dynamic Maximizers®
  • Retirement Compounders®
  • Free Email Signup
  • Dick Young’s Safe America

Even Elon Musk, Tech Billionaire, is Looking for a Better America

December 9, 2020 By E.J. Smith

Elon Musk, founder of Space Exploration Technologies Corp.- SpaceX, joins President Donald J. Trump at a launch briefing in preparation for the launch of the SpaceX Falcon 9 rocket with the Crew Dragon vehicle Wednesday, May 27, 2020, at the Kennedy Space Center in Cape Canaveral, Fla. (Official White House Photo by Shealah Craighead)

You’re not the only one thinking about packing up your business and heading for a low-tax state where politicians treat you like their employer rather than their piggy bank. The billionaire CEO of Tesla and SpaceX, Elon Musk has moved to Texas. Heather Somerville reports for The Wall Street Journal:

Tesla Inc. Chief Executive Elon Musk said he has moved to Texas, taking aim at Silicon Valley and becoming one of the highest-profile executives yet to leave California during the coronavirus pandemic.

He said relocating made sense with Tesla’s new factory being built in Texas. He lamented that California, in his view, had become complacent with its innovators.

Mr. Musk’s companies continue to maintain extensive operations in California, and other tech firms are expanding their presence there. Yet his decision to move underscores a growing discontent, particularly among wealthier tech professionals, with the cost of living in the state, a pre-pandemic real-estate crunch and clogged roads.

Taking up residence in Texas comes with personal benefits for Mr. Musk: The state doesn’t collect state income or capital-gains tax for individuals. The auto executive qualified this year for billions of dollars in stock-option compensation as part of a pay-package agreement, making him the second-richest person in the world.

During the spring, when Mr. Musk was sparring over coronavirus shelter-in-place orders that shut his factory near San Francisco, California Gov. Gavin Newsom told CNBC he was “not worried about Elon leaving any time soon” and the state was committed to the car maker’s success. “We may not be the cheapest place to do business but we are the best place to do business,” Mr. Newsom, a Democrat, said. Silicon Valley remains home to some of the hottest companies— Airbnb Inc. and food delivery company DoorDash Inc. are poised for multibillion-dollar public listings this month and are both based in San Francisco.

You’ve read in these pages about many others who are looking for a better America. It’s no surprise when some politicians are focused more on their ideology than on their states’ success.

Action Line: You don’t need to be a billionaire to find a better America. You can live like a billionaire in places where you’ll be left alone to pursue your dreams. Find an island of freedom for you and your family today.

Originally posted on Your Survival Guy.

Share this:

  • Email
  • Twitter
  • Facebook

You Might Also Like:

  • Europe Takes Aim at America’s Big Tech Companies with Copyright Demands
  • Can You Guess Which Regulator is Upset With Elon Musk Now?
  • Tech Loses its Biggest Stars
  • Author
  • Recent Posts
E.J. Smith
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@youngresearch.com
Latest posts by E.J. Smith (see all)
  • I’ve Been in Richard Young’s Maximizers for Years - January 20, 2021
  • Smith Family Robinson in Live Free or Die, NH - January 19, 2021
  • The Fed is Sacrificing Retirees to Save the Banks - January 15, 2021

Search Young Research

Most Popular

  • Vanguard Wellesley (VWINX) vs. Wellington (VWELX): Which Fund is Best?
  • Do You Remember When NASDAQ Dropped by 82%?
  • The Power of a Compound Interest Table
  • The Highest Yielding S&P 500 Stocks
  • Gavekal Chairman: Renewables Bubble is "Stupidest" Ever
  • Don’t Be on Their Radar, Get Out of Debt Now
  • There's Always a Way Forward for Americans Like YOU
  • Overtaken By Nvidia, Intel Fires Bob Swan
  • Stocks: Are You Sticking Your Neck Out Too Far?
  • Democrats Eager to Get Back to Protecting the Rich by Ending SALT Deduction Cap

Don’t Miss

Default Risk Among the Many Concerns with Annuities

Risk and Reward: An Efficient Frontier

How to be a Billionaire: Proven Strategies from the Titans of Wealth

Could this Be the Vanguard GNMA Winning Edge?

Cryptocosm and Life After Google

Warning: Avoid Mutual Fund Year End Distributions

Is Gold a Good Long-term Investment?

How to Invest in Gold

Vanguard Wellington (VWELX): The Original Balanced Fund

What is the Best Gold ETF for Investing and Trading?

Procter & Gamble (PG) Stock: The Only True Dividend King

The Dividend King of the North

You’ll Love This if You’re Dreaming of an Active Retirement Life

RSS The Latest at Richardcyoung.com

  • This Guy Is America’s New President: Shotgun Joe
  • Progressives Steal White House/Demolish Their Foundation
  • The Route 209 Pennsylvania Presidential Election Mystery.
  • A President Speaks: “Hard Work Never Killed Anybody”
  • Trump Clobbers Biden In Pennsylvania, Day #2
  • VIDEO: Joe Biden, “Buy a Shotgun,” the Remix
  • Pennsylvania – Trump Buries Biden Day #3
  • Biden Seeks to Expand Inefficient and Unsafe Transport of Oil by Rail
  • Shotgun Joe Biden: Crackin’ Up
  • The Recklessness of Arnold Schwarzenegger

About Us

  • About Young Research
  • Archives
  • Contributors

Our Partners

  • Richard C. Young & Co.
  • Richardcyoung.com

Social Media

  • Facebook
  • Twitter
  • Youtube
  • Pinterest

Copyright © 2021 | Terms & Conditions

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.