San Francisco: Elon Musk, the owner of X (formerly Twitter), has decided to shut down the company’s headquarters in San Francisco.

Elon Musk said that this headquarters has been operational for 10 years, but now it’s time to close the headquarters in San Francisco and relocate workers to South Bay.

Elon Musk actually restructured the company, and he has a plan to make X an “everything app” that allows users to send or receive money.

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He shared a post on X and said that if you want to send or receive money, it’s very hard to work here in San Francisco. That’s why Stripe and other payment gateways had to leave San Francisco.

Elon Musk is not happy with California’s economic laws. He further said that the office would be closed in the next few weeks.

X CEO Linda Yaccarino says that this is a very important decision to close X headquarters that definitely impacts many of you, but it is the right one for our company in the long term.