Apollo selects Austin as site of second headquarters
By Steve Moore
WASHINGTON, D.C. (Texas Insider Report) — Apollo Global Management, the private equity giant which manages $1 trillion in assets, has announced it will locate a second headquarters in Austin, Texas, scaling back the importance of its New York City base.
Earlier this year, the company stated: "New York does not have a monopoly on talent, and we expect most of our future growth will take place in our second HQ."
Apollo is far from alone in joining the company cattle drive to Texas:
- Canyon Partners, a well-known credit manager, has moved its headquarters from California to Texas.
- JPMorgan, Goldman Sachs, and Scotiabank also recently opened Texas offices with 1,000s of employees.
- The New York Stock Exchange recently launched NYSE Texas, and
- Nasdaq recently announced plans for Nasdaq Texas.
And Austin doesn't have a mayor named Zohran Mamdani.
You can track how many people are moving out of New York, or any other blue states, by visiting VoteWithYourFeet.net.
Steve Moore – a former Wall Street Journal Editorial Page writer – is Chief Economist for The Texas Insider and a former Senior Economic Adviser to President Donald Trump. A Senior Fellow at FreedomWorks, with Steve Forbes & Art Laffer he is Co-Founder of the Committee to Unleash Prosperity. Using compelling charts, videos, and maybe even a little humor, Moore and the Committee's free Daily Newsletter provides information not readily available anywhere else – short, timely, inside updates on the economy, D.C. politics, and other issues that'll help you stay informed and be the smartest person in the room.
