Fox News contributor Charles Hart talks about why Democrats love debt and the fascinating Musk-Trump interview on X.
X owner Elon Musk is planning to move his social media platform’s headquarters out of San Francisco, with some city officials keen to say goodbye to the billionaire’s business.
“I agree with the majority of San Franciscans: This is good,” city attorney David Chiu told The New York Times.
The outlet reported that San Francisco Mayor London Breed met with Musk “several months ago” but made no offer to keep X in the city, saying she “has no intention of asking anyone to do so.”
The report comes after Musk announced last month that he would move his company’s headquarters to Texas after California enacted a new law banning schools from notifying parents if their child wants to change their gender identity.
Elon Musk announces SpaceX will move headquarters from California to Texas in response to new gender identity laws
San Francisco officials aren’t fazed by Elon Musk’s decision to move X’s headquarters from San Francisco to Texas. (Alexi Rosenfeld/GC Images / Getty Images)
Musk said at the time that SpaceX would move its headquarters to Austin, Texas, and also announced that SpaceX would move its headquarters from Hawthorne, California, to Starbase, Texas. He called the Gender Identity Act the “final straw,” and blamed the move on “this law and the many laws that came before it that have attacked both families and businesses.”
The billionaire has been critical of policies that allow children to have their gender reassignments, and in a recent interview with Dr. Jordan Peterson said she was “essentially tricked into signing papers” to allow her son Xavier, who now goes by the name Vivian Jenna Wilson, to be treated with puberty-suppressing drugs.
“I lost a son. There’s a reason it’s called Deadnaming. It’s called Deadnaming because my son is dead. My son, Xavier, was killed by the awakened mind virus,” Musk said. “I then vowed to destroy the awakened mind virus.”
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In July 2023, X removed the large X that had been installed on the roof of its San Francisco headquarters due to permitting issues. (Justin Sullivan/Getty Images)
In early August, The Times reported that Company X CEO Linda Yaccarino told employees that the company’s Bay Area staff would be transferred to an existing office in San Jose and a new engineering-focused office in Palo Alto.
Shortly after announcing X’s departure from San Francisco in July, Musk cited “insane gross receipts city taxes” that made it “impossible for a financial company to operate in San Francisco.”
“That’s why Stripe, Block(CashApp), VISA and many others were driven out of San Francisco, because ‘gross revenue’ was now defined as all transactions a company processes, not just revenue. That meant payment processing companies had to either leave San Francisco or disappear,” Musk said last month. “Even if San Francisco’s serious crime problem were solved tomorrow, X couldn’t stay in San Francisco and start a payments service. It would go bankrupt quickly.”
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Elon Musk brought the so-called Sync to Twitter headquarters in October 2022 after completing his controversial acquisition of the social media platform. (Elon Musk’s Twitter account/via AFP/Getty Images)
The decision to move X out of San Francisco comes a year after Musk said the social media platform formerly known as Twitter would maintain a presence in the city despite receiving offers to encourage the company to relocate after he bought it for $44 billion.
Musk said at the time that X would remain in San Francisco, despite the city facing a “doom spiral” as companies fled the city and its tax base further declined.
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“Many have offered huge incentives for X (formerly Twitter) to move its headquarters out of San Francisco. Plus, San Francisco is in a spiral of ruin with companies moving in and out of the city, so people are expecting X to move too. We’re not moving,” Musk said last July, explaining about X. “Only when you’re in a tight spot do you find out who your friends really are. San Francisco, beautiful San Francisco, we’ll always be your friends, even when others have abandoned you.”
