The billionaire is looking for a new location for his company’s headquarters.
AUSTIN, Texas — Businessman and billionaire Elon Musk continues to expand his footprint in Texas.
On July 16, Musk announced that his company X (formerly Twitter) would be moving its headquarters from California to Austin.
The CEO is currently scouting for vacant office space in the Texas capital, according to a report from the Austin Business Journal (ABJ).
Commercial real estate firm JLL reportedly worked with the company’s vice president to help X find a new location, but ABJ said sources did not corroborate this claim.
Musk is reportedly looking for a roughly 100,000-square-foot building that can accommodate at least 600 people.
Currently, Austin’s vacancy rate is about 25 percent, according to JLL, and there are currently 34 industrial properties available for lease, ranging in size from 1,600 square feet to more than 434,000 square feet, according to the company’s website.
This isn’t Musk’s only Texas-based endeavor: In a recent announcement, he also said he would be relocating his spaceflight company, SpaceX, to Brownsville, Texas.
Musk said the decision comes in response to California’s recent passage of Assembly Bill 1955, which allows LGBTQ+ students to “freely express themselves at school without fear, punishment, or retaliation, including the possibility that teachers or administrators may ‘expose’ them without their permission.”
In a post on X, Musk argued that the law was the “final straw.”
Several of his other businesses, including Tesla and The Boring Company, are already based in Central Texas.
The addition of SpaceX to the company could lead to new hiring, but it’s still unclear when Musk will officially make the move.