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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
PoliticsSpaceX

Musk’s SpaceX moves closer to creating its own Starbase city as Texas county approves vote

By
Valerie Gonzalez
Valerie Gonzalez
and
The Associated Press
The Associated Press
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By
Valerie Gonzalez
Valerie Gonzalez
and
The Associated Press
The Associated Press
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February 13, 2025, 7:23 AM ET
SpaceX's mega rocket Starship is prepared for a test flight from Starbase in Boca Chica, Texas, on Jan. 12, 2025.
SpaceX's mega rocket Starship is prepared for a test flight from Starbase in Boca Chica, Texas, on Jan. 12, 2025. Eric Gay—AP
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A Texas county on Wednesday approved holding an election sought by SpaceX that would let residents living around billionaire Elon Musk ‘s company decide whether to formally create a new city called Starbase.

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The election was set for May 3 and votes can only be cast by residents living near the launch site that is currently part of an unincorporated area of Cameron County, located along the U.S.-Mexico border.

In December, more than 70 area residents signed a petition requesting an election to make Starbase its own municipality. Most of the residents are company employees and the community includes more than 100 children, according to copies of the petition obtained by The Associated Press.

Cameron County Judge Eddie Treviño said the county reviewed the petition and found it met the state’s requirements for the incorporation process to move forward.

“If the election passes, this will be the newest town in Cameron County since Los Indios in 1995,” Treviño said in a statement. “We look forward to seeing the outcome of this election.”

SpaceX responded to a request for comment by referring to the company’s earlier statement in December.

Kathryn Lueders, Starbase’s general manager, previously said that the incorporation would streamline certain processes to build amenities in the area. Some local environmental advocates have expressed worry about what the effects would mean for development.

SpaceX’s launch site broke ground in Texas in 2014. Only 10 of the roughly 250 lots of land within the proposed new city limits do not belong to the company.

More than 3,400 full-time SpaceX employees and contractors work at the Starbase site, according to a local impact study issued by the county last year.

Musk has long been planting business roots in Texas and has spread them far and wide across the Lone Star State. The billionaire moved to Texas in 2020 and relocated to or expanded a number of his companies in the state, citing the state’s business-friendly climate.

Tesla’s massive 10-million-square-foot (930,000-square-meter) Gigafactory, where the company makes its Cybertrucks, opened near Austin in 2022 and will also serve as the company headquarters.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
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