{"id":611628,"date":"2023-02-25T04:49:59","date_gmt":"2023-02-25T10:49:59","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/25\/musk-moves-tesla-headquarters-back-to-california-after-stint-in-texas\/"},"modified":"2023-02-25T04:49:59","modified_gmt":"2023-02-25T10:49:59","slug":"musk-moves-tesla-headquarters-back-to-california-after-stint-in-texas","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/25\/musk-moves-tesla-headquarters-back-to-california-after-stint-in-texas\/","title":{"rendered":"Musk Moves Tesla Headquarters Back To California After Stint In Texas"},"content":{"rendered":"
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Topline<\/h2>\n

Billionaire Elon Musk will locate Tesla\u2019s engineering headquarters in Silicon Valley, he announced in a joint press conference<\/a> Wednesday with California Gov. Gavin Newsom (D), two years after Musk moved the automaker\u2019s headquarters to Texas\u2014and just months after Musk bought San Francisco-based Twitter.<\/p>\n

<\/p>\n

Elon Musk, left, and California Governor Gavin Newsom at Tesla\u2019s new global engineering and AI … [+]<\/span> headquarters in Palo Alto, California.<\/span><\/p>\n

<\/fbs-accordion>State of California<\/small><\/figcaption><\/figure>\n

Key Facts<\/h2>\n
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Tesla\u2019s new engineering headquarters will be located in the former headquarters of Hewlett Packard in Palo Alto, California, Musk said, although he did not specify when the move would take place.<\/p>\n<\/p><\/div>\n

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Newsom called it a \u201cpoint of pride\u201d that Tesla is once again a California company, with a manufacturing plant in the Bay Area city of Fremont, California, in addition to its headquarters.<\/p>\n<\/p><\/div>\n

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Musk had moved<\/a> the electric automaker\u2019s corporate headquarters from Silicon Valley, where the company was launched in 2003, to a Texas Gigafactory outside Austin in 2021, bringing it closer the so-called Starbase launch site for SpaceX\u2014the aerospace company Musk also owns\u2014though SpaceX\u2019s headquarters are outside Los Angeles.<\/p>\n<\/p><\/div>\n

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Tesla shares, which had been slumping in recent months before rallying<\/a> starting last month, increased 1.63% on Wednesday, to $200.58.<\/p>\n<\/p><\/div>\n<\/div>\n

Forbes Valuation<\/h2>\n

We estimate Musk\u2019s net worth to be $192.1 billion, making him the world\u2019s second richest person<\/a>, only behind French fashion entrepreneur Bernard Arnault, the CEO of LVMH Moet Hennessy Louis Vuitton.<\/p>\n

Key Background<\/h2>\n

In 2021, Musk, who owns a home in the San Francisco Bay area, said<\/a> he opted to move the automaker\u2019s headquarters to Texas for additional space and because of the significantly cheaper housing market in Austin, compared to San Francisco. Before he moved Tesla out of California, Musk had threatened<\/a> to relocate both its headquarters and manufacturing out of the state in response to Covid-era gathering restrictions that temporarily closed the automaker\u2019s factory in Fremont. Musk also announced in May, 2020 that Tesla sued<\/a> Alameda County, California, alleging the Northern California county\u2019s Covid restrictions were \u201ccontrary to the Governor, the President, our Constitutional freedoms & just plain common sense.\u201d Musk had also criticized<\/a> California in a summit in Miami last year as the \u201cland of taxes, over-regulation and litigation.\u201d<\/p>\n

Editor\u2019s Note: An earlier version of this story incorrectly stated Musk was moving Tesla\u2019s headquarters back to California from Texas. <\/strong><\/p>\n

Further Reading<\/h2>\n

Tesla Posts Best-Ever Quarterly Revenue And Profit<\/a> (Forbes)<\/p>\n

Musk Testifies Saudi-Backed Offer To Take Tesla Private At $420 Per Share Was No Joke<\/a> (Forbes)<\/p>\n<\/div>\n

Read More<\/a>
\n Brian Bushard<\/p>\n","protected":false},"excerpt":{"rendered":"

Topline Billionaire Elon Musk will locate Tesla\u2019s engineering headquarters in Silicon Valley, he announced in a joint press conference Wednesday with California Gov. Gavin Newsom (D), two years after Musk moved the automaker\u2019s headquarters to Texas\u2014and just months after Musk bought San Francisco-based Twitter. Elon Musk, left, and California Governor Gavin Newsom at Tesla\u2019s new<\/p>\n","protected":false},"author":1,"featured_media":611629,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2150,2586],"tags":[],"class_list":{"0":"post-611628","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-moves","8":"category-tesla"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/611628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=611628"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/611628\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/611629"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=611628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=611628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=611628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}