Elon Musk Moves To Texas: 'California Has Been Winning For Too Long'

Last week brought rumors that Tesla Inc TSLA CEO Elon Musk would be moving to Texas from California. Earlier in the COVID-19 pandemic, Musk threatened to leave the state over lockdown disagreements.

Now, Musk has confirmed via CNBC that he has moved to Texas, saying “For myself, yes I have moved to Texas.”

Two of Musk's biggest companies, Tesla and SpaceX, still remain and have major operations in California. Musk made a point that they were the last automotive and aerospace companies left operating in the state.

"If a team has been winning for too long, they do tend to get a little complacent, a little entitled and then they don’t win the championship anymore. California has been winning for too long," CNBC reported Musk as saying at the Wall Street Journal CEO Council summit.

Benzinga's Take: With the building of Gigafactory Texas and the upcoming launch of Musk's favorite Cybertruck, it makes sense for him to move to Texas. He is often traveling the world via private jet, so where he calls home does not seem too important.

Earlier in the year, Musk sold his California homes after revealing the plan on the Joe Rogan podcast.

Photo courtesy of Tesla.