AUSTIN | Economic Development - Page 51

The ATX · #**1001** Posted **Dec 11, 2020, 9:50 PM**

Oracle's CEO was just on CNBC and announced the move to Austin.

deerhoof · #**1002** Posted **Dec 11, 2020, 10:00 PM**

So Oracle immediately becomes Austin's largest company by valuation with official headquarters in Austin. Dell is around $50 billion and Oracle is around $180 billion.

Oracle is moving its headquarters from Silicon Valley to Austin, Texas
https://www.cnbc.com/2020/12/11/orac...r&par=sharebar

Apple is obviously the largest company by valuation with a significant presence in Austin. It's the most valuable company in the world and is valued around $2 trillion.

ATXboom · #**1003** Posted **Dec 11, 2020, 10:12 PM**

Tesla is next...

ATXboom · #**1004** Posted **Dec 11, 2020, 10:13 PM**

Facebook.... is something to think about as well down the road.

The ATX · #**1005** Posted **Dec 11, 2020, 10:13 PM**

From CNBC's article about the move:

Quote:

Tesla and SpaceX chief Elon Musk also confirmed this week that he moved to Texas, though his companies still maintain their major operations in California. Larry Ellison, Oracle’s co-founder and chairman, also serves on Tesla’s board. Ellison also has a longstanding friendship with Michael Dell, whose computer company was founded and remains headquartered in the Austin area.

https://www.cnbc.com/2020/12/11/orac...tin-texas.html

austlar1 · #**1006** Posted **Dec 11, 2020, 10:15 PM**

Damn. This is getting serious! Oracle HQ comes to Austin.
https://www.dallasnews.com/business/..._source=pushly

We vs us · #**1007** Posted **Dec 11, 2020, 10:21 PM**

Holy shit.

ATX2030 · #**1008** Posted **Dec 11, 2020, 10:22 PM**

Quote:

Originally Posted by We vs us

Holy shit.

Holy shit is right! Wow did not see this coming.

Mopacs · #**1009** Posted **Dec 11, 2020, 10:27 PM**

Huge news indeed... after 40+ years in the S Valley. Even wikipedia is on it https://en.wikipedia.org/wiki/Oracle_Corporation

Quote:

Oracle Corporation is an American multinational computer technology corporation headquartered in Austin, Texas. The company was formerly headquarted in Redwood Shores, California until December 2020 when headquarters was moved to Texas.

enragedcamel · #**1010** Posted **Dec 11, 2020, 10:38 PM**

Quote:

Originally Posted by ATX2030

Holy shit is right! Wow did not see this coming.

I mean we kinda did... on the last page.

N90 · #**1011** Posted **Dec 11, 2020, 11:11 PM**

Oracle is a Fortune 500 right?

If so, Austin just caught it’s first white whale.

The ATX · #**1012** Posted **Dec 11, 2020, 11:17 PM**

Quote:

Originally Posted by N90

Oracle is a Fortune 500 right?

If so, Austin just caught it’s first white whale.

On the 2020 list, Oracle is #82. Dell is #34.

N90 · #**1013** Posted **Dec 11, 2020, 11:24 PM**

DFW got CBRE a month ago (#128 on the F500), HOU got HPE a week ago (#109 on the F500), and AUS got Oracle today (#82 on the F500).

Plus for individual people AUS has lured Joe Rogan (NW over $100 million), Jon Lonsdale (NW over $100 million), Jim Breyer (billionaire), Drew Houston (billionaire), Elon Musk (billionaire), and prolly Larry Ellison (billionaire) all in just the last 6 months.

It’s prolly only a matter of time until Drew Houston makes Dropbox HQ move to AUS official. Elon Musk will prolly follow suit within the next 2-3 years with Tesla, The Boring Company, and NeuraLink (HOU or the RGV make more sense for SpaceX). He’s prolly waiting for Tesla’s facility to finish construction. And he wants to get NeuraLink’s employee count to 10,000 employees.

Jon Lonsdale moved his VC firm’s HQ from SF Bay to AUS, 8VC is one of the 60 largest VC’s in the world BTW.

SA needs to pull through and land the Space Command HQ.

Novacek · #**1014** Posted **Dec 12, 2020, 12:20 AM**

I wonder if Austin finally stepping up and investing in transit played any role. With the oracle campus being on Riverside and the blue line.

gillynova · #**1015** Posted **Dec 12, 2020, 12:32 AM**

I'm honestly shocked. The Oracle headquarters here in the Bay Area is HUGE and can be seen when driving towards SF.

Congratulations on Oracle ATX!

We vs us · #**1016** Posted **Dec 12, 2020, 12:37 AM**

Will be interested to see how this plays out, and what sort of jobs estimation -- if at all -- there was for the relo. Their CA HQ is huge, so I have to assume that we'll end up with some additional build-out . . . but if they're going all- or mostly-remote, their HQ headcount was probably going to reduce drastically anyway.

Here's the current HQ:

I really don't want us to become known as a billionaire's tax haven. Leaves a bad taste in my mouth.

BG918 · #**1017** Posted **Dec 12, 2020, 12:51 AM**

Quote:

Originally Posted by N90

SA needs to pull through and land the Space Command HQ.

This is likely going to Colorado Springs. TX can’t have everything.

The ATX · #**1018** Posted **Dec 12, 2020, 1:01 AM**

Oracle didn't get any tax breaks, and they didn't ask for any. Tax breaks are typically based on specific job creation numbers. That tells me this is just an address change short-term, but long-term it could be a huge deal.

N90 · #**1019** Posted **Dec 12, 2020, 1:05 AM**

Oracle purchased property in Austin, I think near Riverside if I'm not mistaken and built the first building and is constructing the second one and always planned more buildings for future expansions. More construction from Oracle will come in due time. Their campus is huge and their vision for that campus is even larger.

N90 · #**1020** Posted **Dec 12, 2020, 1:06 AM**

Quote:

Originally Posted by BG918

This is likely going to Colorado Springs. TX can’t have everything.

Prolly, those with inside knowledge believe COS is the heavy frontrunner.

But my motto is take everything and leave nothing behind for rivals.