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How will Chevron's stock perform relative to S&P 500 by end of 2025 after HQ move?
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Story
Chevron Moves Headquarters to Texas After 145 Years in California, Joining 80+ Businesses, Says CEO Mike Wirth
Nov 1, 2024, 06:37 PM
Chevron Corporation has announced its decision to relocate its headquarters from California to Texas after 145 years. CEO Mike Wirth confirmed the move during an interview, describing it as a challenging yet necessary decision for the company's future. This transition reflects a broader trend, as over the past five years, more than 80 businesses have migrated from California to Texas, including notable companies such as Tesla, SpaceX, and Oracle. The shift is attributed to California's increasingly progressive policies, which some business leaders believe hinder economic growth. Chevron's departure marks a significant moment in the ongoing dialogue about business climates in different states, particularly in light of Texas's lack of a state income tax, which is seen as a more favorable environment for corporations.
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