Tesla, Charles Schwab — and now Chevron. Texas is having a moment as companies leave California.

The most recent company to depart California, Chevron, announced that its headquarters will move from San Ramon to Houston before the end of 2024.

The energy mammoth said the move will help join senior leaders and "enable better collaboration and engagement with executives, employees, and business partners."

Chevron already has about 7,000 employees in the Houston area and 2,000 in San Ramon and expects all corporation functions to move to Texas within the next five years, it said in a statement.

In 2021, Elon Musk officially moved Tesla's headquarters from Palo Alto, California, to Austin. At the time, Musk said the change was because employees were struggling to afford housing in the Bay Area, leading to longer commutes.

The Golden State is notoriously expensive. According to Zillow data, the average home there costs $786,730. In Texas, it's $308,121.

"There's a limit to how big you can scale in the Bay Area," Musk said at the time.

After four decades in Silicon Valley, Oracle moved its corporate headquarters to Austin in 2020.

A spokesperson told Business Insider at the time that the move would provide employees with "more flexibility about where and how they work."

The database software company had been based in the Bay Area since being founded in 1977, and many employees remain.

Around 6,900 workers are assigned to California offices, which is nearly triple the number of Texas-based employees, Bloomberg reported.

Brokerage giant CBRE moved its headquarters from Los Angeles to Dallas in 2020.

Although the Fortune 500 company was established in San Francisco over a century ago, CBRE has held large operations in North Texas since the 1970s.

In 2022, the real estate firm also opened a 131,000-square-foot office in Richardson, Texas.

The Fortune 500 construction firm announced the relocation of its headquarters from Los Angeles to Dallas in 2021.

Various corporate leaders, including CEO Troy Rudd, joined over 1,200 employees based in AECOM's existing Texas offices.

The company said North Texas was a "talent magnet" for engineering and consulting, but that California would remain part of its growth strategy.

In July, Musk announced on X plans to relocate Space X from Hawthorne, California, to Starbase, Texas.

Musk said the move was in response to Gov. Gavin Newsom signing AB 1955, which prohibits schools from enforcing policies requiring parental notification if a student identifies as transgender.

The CEO called the law the "final straw," claiming that it would force "families and companies to leave California to protect their children."

X — formerly known as Twitter — is also set to follow suit, according to another tweet by Musk, which said that the platform's HQ would move from San Fransisco to Austin.

Formerly based in San Francisco, Charles Schwab HQ moved to Westlake, Texas, in 2021 to reduce operating costs.

Chairman and founder Charles Schwab told Forbes that California's high taxes were a major factor in the decision, saying that "the costs of doing business here are so much higher than some other place."

In 2019, the healthcare giant moved its HQ from San Francisco to Las Colinas, Texas.

Three years after the move, CEO Brian Tyler showed no regrets, and said that the city "was absolutely the right community for McKesson to call home."

"Since making the move to Irving, McKesson has quickly benefited from the deep, diverse talent pool in the Dallas area, the ease of travel, and the very engaged business community," he said.