Last week, Elon Musk, the world's second wealthiest person, said that he was leaving California moving to Texas.

He's got a net worth of 144 billion dollars.

And he's long been a critic of California.

But is there more to the story?

Vox reporter, Emily Stewart, is here to talk us through it.

Emily, how's it going?

That's good. How are you?

Good. So why is Elon saying he's moving to Texas? Yeah, he's giving a lot of different reasons. I mean kind of the main one is that

Tesla is building a new factory outside of Austin,

so like this in a way is, it makes sense for him, right?

But I think, you know, there is more to this as well.

Like, it's been no secret throughout COVID

that Elon has been a little bit annoyed with California regulations.

He got into trouble over a factory early on in the pandemic that he didn't want to shut down.

I think he ultimately could have won that battle. But you know it a

shut down, I think he ultimately could have won that battle. But, you know, it, he's kind of over it and I think that you can understand you go to Texas and it might be a friendlier business environment and certainly I think that elected officials aren't going to be

bothering him in the same way in Texas that they are in California.

Yeah, so your point is that there is a business logic to this like nothing he's saying seems implausible.

No, I don't think it's impossible at all. Like it makes sense and I think it makes sense for him

on a personal level as well in the

sense that Texas doesn't have an income tax they don't do individual capital

gains taxes now like is it a huge tax advantage for him maybe not like they do have high property

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