Billionaire Elon Musk said Twitter will keep its headquarters in San Francisco despite the company, which is rebranding as X, receiving offers aimed at luring it away from the Bay.
says Twitter – the social media company he is in the midst of rebranding as "X" – will keep its headquarters in San Francisco despite the "doom loop" the city is facing as big-name businesses head for the exits.that took the company private in a $44 billion deal last year, tweeted Saturday that the company’s headquarters will remain in San Francisco despite receiving offers aimed at enticing the company to relocate.
"You only know who your real friends are when the chips are down. San Francisco, beautiful San Francisco, though others forsake you, we will always be your friend," Musk’s tweet concluded. San Francisco’s economy has suffered from an exodus of businesses and residents in the last few years, creating a "doom loop" in which a local government enters a downward fiscal spiral as its tax base declines.
An"X" sign sits atop the company headquarters, formerly known as Twitter, in downtown San Francisco on July 28, 2023.
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