The rush of companies leaving California for Texas is becoming a downright stampede.
Chevron, which has called California home since 1879 when it began as the Pacific Coast Oil Company, is the latest.
The oil company had been sued by its home state late last year. California accused Chevron and other energy giants of downplaying the risks of fossil fuels.
But Texas has no such qualms — with Gov. Greg Abbott tweeting on Friday, “WELCOME HOME Chevron! Texas is your true home.”
Just in case there was any confusion, he added: “Drill baby drill.”
Chevron joins a raft of other companies that have pulled up stakes in California and left for Texas, which had 52 Fortune 500 companies in 2024.
Global real estate company CBRE — which itself moved in 2020 from Los Angeles to Dallas — said eight Fortune 500 companies pulled their headquarters out of California from 2018 through 2023. And 10 moved to Texas.
Still, it’s important to note that California is no slouch. It’s, of course, the cradle of tech in Silicon Valley and is home to Apple, Alphabet, Meta, and Nvidia. And it had 55 Fortune 500 companies in the magazine’s latest tally.
But it’s time to subtract one from that list: Chevron, headquartered in San Ramon, was No. 15.
Indeed, Texas seems to be having a moment right now. Here are some of the other biggest companies that have already moved to the Lone Star State.
