Abbott via Facebook TSLA Tesla 594.15 0.65 (0.11 %) Disclaimer Get real-time TSLA charts here " Elon Musk has informed friends that he plans to move to Texas, CNBC reports.
The news comes after Musk threatened in May to move Tesla out of California because of its response to the coronavirus.
Texas famously has no state income tax, which could save Musk a lot of money on his massive pay package.
Tesla's factory in Fremont was required to cease operations for a short period of time.
—Elon Musk (@elonmusk) May 9, 2020 Even before the tweet, Musk had called California's rules fascist, urging the state on an earnings call to "give people back their goddamn freedom."