Oracle Chairman Leaving California Says "Moving to Hawaii, Not Texas"
Oracle Headquarters Announces Move to Texas
Chairman Allison Owns 98% of Lanai Island, Hawaii
[Asia Economy Reporter Jeong Hyunjin] Larry Ellison, chairman of Oracle, announced on the 14th (local time) that he has moved from California to Hawaii. Following Elon Musk, CEO of Tesla, who recently moved to Texas, business leaders are increasingly fleeing California due to its high tax rates and strict corporate regulations.
According to Bloomberg News, Chairman Ellison revealed the move to Hawaii in a message sent to employees that day. He said, "I have been asked many times whether I will move to Texas," adding, "The answer is 'no.' I have moved to Hawaii and will work via Zoom from Lanai Island, part of the Hawaiian Islands."
Earlier, on the 11th, Oracle announced in a filing with the U.S. Securities and Exchange Commission (SEC) that it would relocate its headquarters from Redwood City, California, to Austin, Texas. Foreign media reported that Oracle, a long-established company in California since 1977, ultimately moved its headquarters to escape high taxes and corporate regulations.
The reason Ellison chose Hawaii as his primary residence instead of Texas is that he owns 98% of Lanai Island in the Hawaiian Islands. Currently ranked 11th among the world's wealthiest individuals, he purchased 98% of the island in 2012 and now owns luxury hotels and resorts on Lanai Island. Bloomberg described him as "the main employer of the island's 3,000 residents."
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Recently, business leaders who lived in California have been moving to other regions one after another. CEO Musk revealed in an interview with a media outlet on the 8th that he had moved to Texas, explaining, "I was not using my time well in California." He criticized California for entangling business activities in regulations and hindering the birth of startups, demanding, "Step aside."
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