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» With Elon Musk moving to Texas, the world's 3 richest people are set to pay a whopping $0 in state income taxes. Here's why 9 US states don't collect any income taxes. With Elon Musk moving to Texas, the world's 3 richest people are set to pay a whopping $0 in state income taxes. Here's why 9 US states don't collect any income taxes. Hillary HoffowerDec 15, 2020, 03:02 IST Elon Musk is now a Texan.Pool/Getty Images Elon Musk, the world's second-richest man, moved from California, the state with the highest income tax, to Texas, a state with no income tax at all. Jeff Bezos and Bill Gates ...

The Tesla and SpaceX CEO confirmed the news on Tuesday at a virtual conference hosted by The Wall Street Journal. "For myself, yes, I have moved to Texas," Musk said, adding that SpaceX was developing its Starship spacecraft in South Texas and that construction of Giga Texas, a new Tesla manufacturing site in Austin, was underway. These SpaceX and Tesla developments, combined with Musk's repeated threats to leave California this year, had for months spurred speculation that Musk would move to Texas. The move from California to Texas is convenient for Musk, who will now be close to the SpaceX ...