In late 2022, Elon Musk bought social network Twitter for $44 billion and announced that the platform would be renamed X in July 2023.

According to information from The Verge, Elon Musk announced that he was forced to close X’s iconic offices in San Francisco – this was the headquarters of this social media company for more than 10 years until Musk bought it.

X’s US headquarters will close completely

According to a post on social network X, Musk said “It’s impossible to operate in San Francisco if you’re processing payments. That’s why Stripe, Block, and others had to move.” Therefore, the closure of X’s headquarters is part of the company’s plan to reform when it wants to create an application that allows users to send and receive payments.

Musk drastically reduced Twitter’s workforce when he acquired the company in October 2022, and X had about 120 employees in San Francisco before it officially announced its closure.  “This is a big decision that will impact many of you, but in the long run, it is the right decision for our company,” X CEO  Linda Yaccarino wrote in an email to all employees.

Prior to this decision, SpaceX had already decided to move its headquarters to Texas. Employees will be transferred to offices in San Jose and Palo Alto – where Musk’s AI startup is located.