Billionaire entrepreneur Elon Musk announced on Tuesday that he will be relocating the headquarters of two of his companies, X Corp. and SpaceX, from California to Texas. The move comes as no surprise as SpaceX has been expanding its Starbase manufacturing and launch site in southeast Texas while X (formerly known as Twitter) has been steadily growing its presence in Austin.
According to a report by The Wall Street Journal, X had already begun expanding into Texas earlier this year with plans to hire employees for a team focused on content safety issues based in Austin. It is unclear what will happen to the company’s current headquarters complex in San Francisco.
Musk’s electric-vehicle company Tesla also follows a similar setup with its “engineering headquarters” located in Palo Alto, CA despite being based out of Texas.
Meanwhile, SpaceX has significantly increased its presence in the Lone Star State with plans for large-scale manufacturing facilities not only for itself but also for Tesla and The Boring Company within the Austin metro area. This move was met with enthusiasm by Governor Greg Abbott who tweeted about it saying that it solidifies Texas’ position as a leader in space exploration.
This breaking news was first reported by Connect CRE.
