No, Elon is moving to Texas. Everything else is staying where it is. SpaceX is still headquartered in Hawthorne. Tesla is still in Palo Alto. He is building a giant new factory in Texas, but that is not meant to replace the Fremont factory.
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Yeah somehow I doubt elon's hate of California/love of texas is not going to translate to his ops in texas overtaking california's ones. Nobody would be celebrating it if it really only was a change of residence
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Replying to @Chicho93903740 @Jason and
Anyway.. to the original point.. CA has provided some subsidies in the past, but they were always in exchange for something and I don’t think anyone would argue that CA didn’t get it’s money’s worth.
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Idk. I would argue one of the richest people alive shouldn't need corporate welfare
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Replying to @Chicho93903740 @Jason and
Also remember that Tesla didn’t build the Fremont auto plant. It used to belong to GM and Toyota. They shut it down and laid off all the workers. CA was very interested in trying to get those jobs back. That is why they were willing to help.
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Tesla is still getting subsidies. On almost the year 2021. He is top 3 richest this year. The previous years he was top 100. Long are gone the days where he was sleeping in couches. But still taking those subsidies
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Replying to @Chicho93903740 @Jason and
Also, I think it’s important to understand that “richest” only means he is worth a lot on paper due to his ownership of a lot of shares of Tesla. This is not money sitting in the bank. Tesla is a volatile stock prone to sharp rises and falls.
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It's only on paper because he is deciding to not cash in and use his money to fund his companies
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Replying to @Chicho93903740 @Jason and
Actually someone did ask him what his plans were for his large stake in Tesla, and he says he plans to use it to fund SpaceX’s goal to send people to mars. So he will use it to fund his company.
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I'll believe it when I see it
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Also, Elon’s entire compensation is in the form of stock options. He gets no bonuses, salary of dividends. Elon will have to buy those options, so in a very real way, Elon will pouring millions more into Tesla in the coming years.
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