SAN FRANCISCO – Elon Musk, owner of the social media platform X (formerly Twitter), has announced the closure of the company’s headquarters in San Francisco.
Elon Musk stated that after more than a decade of operating from this office, he had no choice but to shut it down.
As part of a restructuring effort, Musk intends to transform the platform into an “everything app,” which will facilitate users in sending and receiving payments.
In a post on X, Musk explained that it is impossible to operate in San Francisco if you want to send or receive money. He noted that companies like Stripe, Block (Cash App), and others had to leave the city for the same reasons.
Musk’s post appeared to hint at California’s economic regulations. However, Stripe had previously indicated that they left San Francisco in 2019 due to the unavailability of office space.
X’s CEO, Linda Yaccarino, informed the staff via email that these offices would be closed within the next few weeks.
