SAN FRANCISCO – Elon Musk has revealed that X, the social media platform formerly known as Twitter, will close its headquarters in San Francisco.
Musk explained that after operating from this office for over a decade, it’s no longer feasible to keep it open. As part of a major restructuring, Musk plans to turn X into an “everything app” for sending and receiving payments.
In a post on X, Musk criticized San Francisco’s business environment, suggesting it’s challenging to operate in the city for financial transactions. He pointed out that other companies, like Stripe and Block (Cash App), had also left San Francisco for similar reasons.
Stripe, however, had previously stated they left in 2019 due to a lack of office space, not economic regulations.
X’s CEO, Linda Yaccarino, informed employees via email that the San Francisco offices will close within the next few weeks.