The home of the Tesla Gigafactory and SpaceX launch facilitator, Elon Musk, is attracting attention from many people across the world, who are wondering if Elon Musk is a Texas resident. Born South African, Elon Musk has become an international entrepreneur without an actual home base, rather an ever-widening circle of influence, business investments, and tech projects.
In March 2020, Elon Musk made the move to Austin, Texas, and prompted rumors that this could be the billionaire’s permanent residence. While it remains unclear as to whether or not Elon Musk has put down roots in this home of tech companies, startup accelerators, and leading universities, there is evidence to suggest that at least for the foreseeable future, Texas may very well be the territory of the eccentric entrepreneur.
In an interview with the Wall Street Journal discussing the move to Texas, Musk laid out the reasoning behind it, citing the relatively low taxes, lack of state income tax, and the ability to recruit talent from nearby universities as factors in his decision. Hinting at further expansion in the future, he further noted that “Texas has been good to me, I think it’s a smart choice..”
Musk has become an active member of the tech community in Austin, and made an appearance at the South by Southwest festival where he held court, speaking on a variety of topics, including his latest electric car, the Tesla Cybertruck, with the slogan “boldly going where no electric car has gone before.”
The move to Texas was made to spread the presence of Musk’s many tech projects beyond California, where the entrepreneur has found himself in a few standoffs with local government, from filing lawsuits over the statewide quarantine to his dispute with Los Angeles city officials over digging tunnels for his underground transport system, the Boring Company.
In a more recent tweet aimed at enticing people to join his team in Austin, Musk announced that there is “no shortage of exciting things happening at Tesla Austin”, revealing a desire to continue building the presence of his current businesses while continuing to develop new ones within the Lone Star State.
The move is clearly a smart business choice, but that’s not to say that Musk isn’t here to lay down roots just yet. As of right now, the world-renowned entrepreneur has yet to purchase a permanent residence in Austin, but is known to be residing in a rental property nearby the Tesla gigafactory.
Tesla in Austin
Tesla’s presence in Austin has become an increasingly important one. Musk last year spent $1.1 billion buying roughly 2,100 acres of land from the Texas capital city to build a new large-scale manufacturing facility for Tesla’s electric vehicles.
The facility is expected to create thousands of new jobs in the area and provide an economic boost to the city. The move has already begun to pay off, with the city’s mayor, Steve Adler, recently praising Tesla’s ‘Project Icon’, a construction job-making plan to build 5,000 homes in the Travis County area.
With tax breaks and incentives, the Tesla Gigafactory has become an attractive proposition for the Texan municipal authorities. With Tesla’s batteries, motors, and related electric vehicle components made locally, it is hoped that this will bring an economic boost to the area and increase its global appeal.
As a major proponent of clean energy, Musk’s presence in the Texan capital has been a welcome one, with Texas’ electric utilities unanimous in their praise for the electric vehicle manufacturer.
Total Domination
Musk’s move to Austin has not been the end of his mission for Texas domination. His company SpaceX is also set to build a facility in Texas, with plans to launch SpaceX’s Starship rocket from a facility near the Texas coast. The launch pad is reported to be capable of launching multiple times per month, making it potentially the premier hub for space exploration in the US.
Other companies have followed suit, with engineering firm Samsung announcing their intentions to build a complex in Austin that will be the official home of the company’s North American headquarters. This will bring a number of benefits to the area, including an AI research lab and potential job opportunities. It’s clear that the presence of Elon Musk has helped attract other major corporations to the area.
In addition to this, Musk has also established a space exploration research center dedicated to developing hyperloop technology, which would cut the journey time between two cities – such as Dallas and Houston – by more than half.
Musk has also recently announced plans to build a second Gigafactory in Austin, potentially creating thousands of jobs and bringing millions of dollars into the city. By increasing its production capacity, Tesla’s presence in the city is set to become even larger, with the facility likely to create a new source of jobs and wealth for the city residents.
Global Ambitions
It’s not just Musk’s presence in Texas that’s making the news, however. His global ambitions are also well-known, with recent ventures in the field of artificial intelligence, space exploration, and renewable energy.
Musk’s Mars-bound vision for the exploration of space may have caught the public’s attention, with SpaceX’s plans to colonize the Red Planet, as well as its efforts to launch satellite constellations to provide internet access from space.
His passion for renewables has also been a dominant feature of his business interests, with his brainchild, Tesla Motors, firmly focused on producing vehicles powered by renewable energy sources, such as the electric car, the Model 3. Tesla’s energy division has had a marked increase in installations of its solar products, which power households and businesses across the US.
His vision for the future of humanity also includes slick, high-speed transport systems, such as the Hyperloop, which could revolutionize the way people move around cities and countries. The Hyperloop would link cities around the globe, drastically reducing the travel time between two points.
Transformation of Austin
There’s no question that the presence of Elon Musk in Texas is having a transformational effect on the city of Austin. With his various projects, from Gigafactories to space exploration, all set to bring jobs and wealth to the area, Austin is quickly becoming a tech hub for the world.
The economic benefits for the area are profound, as Musk’s presence is fuelling investment, both domestically and globally, into the area. The presence of big tech companies and start-ups alike will bring innovation to the region, and bolster the knowledge economy of Texas, making it a global centre for business and research.
Investment Opportunities
The presence of Elon Musk in Austin has also opened up new opportunities for investment. As Tesla’s stock continues to climb, the value of its share has become an increasingly attractive opportunity for investors, as well as a reliable indicator of the health of the tech sector in Austin.
The presence of the Gigafactory is also bringing more industry to the area, and allowing more investors to tap into the potential of the city, with the local governments offering incentives and tax breaks to those who choose to invest in the area.
Plus, with the increased focus on renewable energy and the presence of the Tesla brand in the area, there is an increased demand for alternative energy sources, creating more opportunities for renewable energy investors and businesses.
Environmental Activist
Musk’s presence in Texas is not only viewed as a positive economic boost for the area. He is also a vocal advocate for effective environmental policies and actively promotes renewable energy solutions and the move away from fossil-fuel industries.
With Tesla’s factories leading the way in sustainable energy solutions, Musk’s voice in the field of environmental protection has become even more important, with his advocacy for renewable energy sources and a carbon-free future proving to be inspiring to many.
His influence on the political landscape has also been felt, with some politicians noting a shift in public opinion in favor of alternative energy sources and environmental concerns. This shift is one that Musk is eager to see become a reality.
Future of Musk in Austin
While the details of Musk’s specific permanence in the city remain unclear, it’s evident that there are plans for the entrepreneur to become even more entrenched in the business and technology landscape of the region.
It’s also likely that Elon Musk will continue to grow his presence in Texas, with his ambitious projects and ambitions pointing to a long-term commitment to the area. As such, the region is likely set for a historic transformation in terms of its technology, infrastructure, and economy.
