Which major tech companies & industry leaders are leaving Silicon Valley?

Team Udayavani, Dec 29, 2020, 11:20 AM IST

Recently, major tech firms have decided to move their headquarters away from Silicon Valley

Several technology companies including Hewlett Packard Enterprise, Oracle and Palantir are leaving Silicon Valley. Hewlett Packard Enterprise (HPE), will move its headquarters to Texas. and Oracle (ORCL), announced plans to join them, saying it will relocate its headquarters to Austin.

Silicon Valley has been the epicenter of the tech industry for decades, starting in 1938 when Bill Hewlett and David Packard started tinkering in a Palo Alto garage.

Tech industry leaders like Elon Musk, Oracle Co-founder Larry Ellison, Dropbox CEO Drew Houston, Shutterstock Founder Jon Oringer and others recently announced they will leave Silicon Valley. The Tesla CEO revealed his move from California to Texas and Dropbox (DBX) CEO has purchased a home in Austin and will be moving there

While some blamed ‘mismanagement’ in California, others blamed high personal income tax rate.