Houston, who’s the founder and CEO of cloud storage company Dropbox, purchased a house in Austin that will eventually become his full-time residence, according to The Information’s Cory Weinberg, Kate Clark, and Zoë Bernard. Douglas Merritt—Splunk CEO Douglass Merritt recently bought a home in Austin, with plans to make it his permanent residence. 1. James Drew is an investigative reporter in the Austin Bureau of the Houston Chronicle. Tesla's CEO isn't the only tech mogul eyeing Austin. Drew Houston, whose net worth is about $1.4 billion, has purchased a home in Austin that he plans to make his full-time residence, according to a report from The Information. Now, companies like Twitter, Square, and Slack have said employees make work remotely on a permanent basis, while others, like Facebook, are allowing employees to relocate with manager approval. California has some of the highest taxes in the nation and is one of the most expensive cities for homebuyers. Tesla's announcement earlier this year of plans to build its next Tesla Gigafactory arrived with a thump, electrifying critics and supporters by accelerating the city's transformation into a tech city. Its median rental price is 2.5 times the national average, making it the most expensive city in the US for renting a two-bedroom apartment. “It’s very clear right now, people are shifting their preferences pretty massively,” Rabois told Fortune. Drew Houston: The Dropbox CEO has purchased a home in Austin and plans to make it his permanent residence, according to a report from The Information last month. ... plus personal moves to Texas by Tesla Inc. CEO Elon Musk and Dropbox CEO Drew Houston. Bitcoin sinks below $34,000 as sell-off cuts into early-January momentum. In addition to the new arrivals, Dell founder Michael Dell has long been based in the Austin region, and Tesla and SpaceX founder Elon Musk will be spending more time there as Tesla builds a new Cybertruck factory in Austin. As remote work policies loosen across the tech industry, executives and workers alike have been pouring into the nation's more affordable interior. The Texas Department of Public Safety abruptly closed the Texas Capitol on Friday through Inauguration Day. Techinfinitylife is your news, entertainment, celebrity website. Douglas Merritt, the CEO of software company Splunk, also recently purchased an Austin home. United Airlines lost $7 billion in 2020 as the pandemic crushed the travel business. Austin, meanwhile, has a friendly character that is inviting with Texas' lack of personal income tax. The pandemic has shifted how many tech companies value in-office work, leading to an exodus from the Bay Area and a migration toward more affordable cities. Opinion | A Biden Tax-Hike Break for Small Businesses, Biden’s Calls for Unity Are Already Being Tested in Congress, Jen Psaki, Biden’s new press secretary, pledges to bring ‘truth and…, The Inauguration Kept Crowds Out and Tried to Bring America In, Purple was a popular color at the inauguration and Bernie Sanders’…. Houston’s departure from Silicon Valley is the latest in … Save my name, email, and website in this browser for the next time I comment. Drew graduated from MIT with a degree in computer science and in 2011 was included in … A spokesperson for Dropbox did not immediately respond to Business Insider’s request for comment on Houston’s plans. Joe Lonsdale, the cofounder of Palantir who currently runs venture capital firm 8VC, already lives in Austin with his family and confirmed earlier this month that he is moving his firm there as well. The address on file for this person is 8 Hearn St, Apt. Austin police on Monday released what the department calls a "critical incident video" of the April 2020 shooting death of Austin resident Michael Ramos, as ordered by the department's policies regarding police shootings and similar incidents.. Officials warn that the … Disclosure: Palantir Technologies CEO Alexander Karp is a member of Axel Springer’s shareholder committee. Visit … Drew Houston, whose net worth is about $1.4 billion, has purchased a home in Austin that he plans to make his full-time residence, according to a report from The Information. The result has been an exodus from the Bay Area and a migration toward more affordable locations throughout the US. Dropbox helps more than 50 million people around the world access and share their most important files from anywhere. Dropbox CEO Drew Houston speaks onstage during TechCrunch Disrupt SF 2018 on September 5, 2018 in San Francisco. Dropbox CEO Drew Houston is reportedly moving to Austin from the Silicon Valley. Visit Business Insider’s homepage for more stories, The Information’s Cory Weinberg, Kate Clark, and Zoë Bernard, The tech elite are abandoning Silicon Valley in droves because of ‘monoculture’ and high taxes — here’s where they’re headed, shifted how many companies value in-office work, a migration toward more affordable locations, Biden Expected to Pick Janet Yellen, Former Fed Chair, as Treasury Secretary, Inside Vanessa Hudgens’ Date Night With MLB Player Cole Tucker – E! While the tech industry had typically required its employees to live within commuting distance in years past — Facebook even used to give a bonus the closer employees lived to the office — the pandemic has shifted how many companies value in-office work. Houston is the latest tech mogul to make a high-profile departure from Silicon Valley, … Houston’s departure from Silicon Valley is the latest in a string of high-profile moves during the pandemic. 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