Billionaire investor and X owner Elon Musk has just uncovered plans to move the headquarters of the social media platform to Austin, Texas. This announcement comes after series of speculation regarding the future of the viral social messaging app.
As revealed on his official X handle, Elon Musk declared that the firm’s headquarters will move to Austin. This decision is coming a month and 2 years after he finalized the deal that saw him take ownership of the firm in a $44 billion deal.
And 𝕏 HQ will move to Austin https://t.co/LUDfLEsztj
— Elon Musk (@elonmusk) July 16, 2024
When Jack Dorsey founded Twitter, the firm had historically operated from California. The decision from Elon Musk comes following unfavorable State laws under the government of Governor Gavin Newsom. California has suddenly become a place of terror for many American citizens for a number of reasons including racism, high standard of living, high crime rate and housing crises amongst others. Even Musk claimed to have dodged violent attacks from gangs of drug addicts severally.
Therefore, it is no surprise that Elon Musk is making this move with X. The announcement met with different reactions from X users, with a majority of them applauding the move. Though the timeline for the relocation remains unknown, it will mark a historic shift for the company and its staffs.
The Elon Musk relocation announcement for X headquarters and SpaceX comes only a few days after Cardano CEO Charles Hoskinson issued an important safety warning on the billionaire investor.
Donald Trump, the 45th President of the United States was attacked on Saturday during a campaign in Pennsylvania. He narrowly escaped the assassin attack with a bruise on his right ear. Fearing for Musk’s life, Hoskinson stated that those who push for change tend to experience some form of tragedy. It was either in the form of social destruction, legal harassment and imprisonment, and then assassination by a “lone wolf.”
Hoskinson feels like Musk is gradually nearing this last phase that involves assassination. Hence, the decision to move out of California may be a good one.
In another form of security for users and employees of X, Hoskinson has offered to integrate Decentralized Identity (DID) on X for free.
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