WASHINGTON (dpa-AFX) - X, the social media company owned by Elon Musk, plans to shut its San Francisco office over the next few weeks, and relocate to Austin, Texas.
The billionaire entrepreneur revealed that 'it is impossible to operate in 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,' he announced on X, formerly known as Twitter.
The post was in response to a New York Times report about an email from X chief executive Linda Yaccarino to staff, which said the office was closing, with employees moving to San Jose and Palo Alto.
Musk first stated that he would be moving the headquarters out of California last month, but initially cited a new California law banning school districts from requiring staff to disclose to parents information related to a student's sexual orientation or gender identity as his reason for leaving.
It comes just weeks after Musk said he would move X and his rocket company SpaceX to Texas.
In 2022, Musk bought Twitter for $44 billion and immediately made several changes at the company, including cutting jobs and reducing content moderation on the platform.
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