Fed up with the conditions in San Francisco, billionaire Elon Musk is moving his social media company out of the area and relocating employees.
The Tesla/Space X CEO is reportedly shuttering the flagship X offices in San Francisco, according to an email from Chief Executive Linda Yaccarino to staff that said the decision was “the right one for our company in the long term.”
Musk said he has “no choice” but to move out of San Francisco.
No choice. It is impossible to operate in San Francisco if you’re processing payments.
That’s why Stripe, Block (CashApp) & others had to move.
— Elon Musk (@elonmusk) August 5, 2024
Last month, the billionaire called out the “last straw” when a new gender identity law was introduced in California, vowing he would be moving headquarters to Texas.
“Because of this law and the many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California, to Starbase, Texas,” he said at the time.
Elon Musk slays Gavin Newsom in clapback to Dem’s response to Cal-exit https://t.co/13Ya3lVmbL via @BIZPACReview
— BPR based (@DumpstrFireNews) July 17, 2024
Musk’s post comes after the New York Times reported Monday that the San Francisco X office would be shuttered over the next couple of weeks, with employees and operations to be moved to locations in Palo Alto and San Jose, Calif.
“In the email, which X’s chief executive, Linda Yaccarino, sent to employees on Monday, the company said workers would move to existing offices in San Jose, Calif. X will also open an engineering-focused office in Palo Alto, Calif., which it will share with xAI, the artificial intelligence outfit owned by Mr. Musk, the email said,” according to the Times.
“This is an important decision that impacts many of you, but it is the right one for our company in the long term,” Yaccarino reportedly said in the email.
Since 2012, the office space has housed X, previously known as Twitter which was founded in San Francisco in 2006.
“Since Mr. Musk bought Twitter in 2022, the company has skipped rent payments to Shorenstein, the real estate company that manages X’s office building at 1355 Market Street. X also tried to cut costs by turning some of the space into bedrooms for traveling employees,” the Times reported.
Just last year, Muck said the city was “in a doom spiral” but promised X would never leave.
Many have offered rich incentives for X (fka Twitter) to move its HQ out of San Francisco.
Moreover, the city is in a doom spiral with one company after another left or leaving.
Therefore, they expect X will move too.
We will not.
You only know who your real friends are when…
— Elon Musk (@elonmusk) July 29, 2023
Social media users reacted to the news that Musk had relented.
Sad seeing this happen to the best state in the country.
— Collin Rugg (@CollinRugg) August 5, 2024
California has been destroyed by the left
— Robbie (@SpaceX_Nerd) August 5, 2024
California administration is pushing people away. They have been doing it, against their own interests, for a long time. They need to wake up.
— L Cimino (@luchicago) August 6, 2024
Are you taking the kitchen sick with you?
— Common Sense Custodian (@Wall_St_Custo) August 5, 2024
It’s the end of an era to close those offices, & in that sense it’s sad – but it opens up a whole world of new possibilities!
— LastKnownSurvivor (@4everwalkalone) August 5, 2024
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Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida where she has been writing for the BizPacReview team since 2015.
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