AUSTIN | Economic Development

[ROCrot]

Originally Posted by Jdawgboy

He might live here, some of the time I wager, but he is not nor will ever be an Austinite. Why anyone needs to have that much wealth for himself is beyond any moral and ethical reasoning. Disgusting IMO.

Apparently you don't realize (or care) that almost all of that wealth is just paper wealth, tied up in the stocks of a very small number of companies, and not actually available for him to spend or give away.

Meanwhile, there are other multi-multibillionaires who spend their time and money having the biggest yachts mankind has ever seen built for them, along with establishing palaces all over the world, with some even buying themselves private islands to house their compounds.

There's a very good chance that he has far less cash money available, and far fewer toys to his name, than 95% of the 100 wealthiest people in the world.

[austlar1]

Originally Posted by ROCrot

Apparently you don't realize (or care) that almost all of that wealth is just paper wealth, tied up in the stocks of a very small number of companies, and not actually available for him to spend or give away.

Meanwhile, there are other multi-multibillionaires who spend their time and money having the biggest yachts mankind has ever seen built for them, along with establishing palaces all over the world, with some even buying themselves private islands to house their compounds.

There's a very good chance that he has far less cash money available, and far fewer toys to his name, than 95% of the 100 wealthiest people in the world.

According to Gemini, Musk has repeatedly stated that less than 0.1% of his total net worth is held in liquid cash or bank accounts. Because his vast wealth fluctuates based on market performance, his actual "walking around money" changes dynamically but follows a strict structural breakdown:Estimated Cash Balance: Based on his net worth, his liquid cash reserves generally hover under $850 million.The "Paper Billionaire" Reality: While $850 million is an astronomical sum for an ordinary person, it is a microscopic fraction of his overall wealth. It means over 99.9% of his fortune is completely locked up in his companies.Early Divestments: He did secure early liquid payouts from the sales of Zip2 and PayPal in the late 1990s and early 2000s, but he famously rolled almost all of that cash directly into founding Tesla and SpaceX.Why He Doesn't Keep a Cash StockpileInstead of maintaining a massive pool of cash, Musk relies on standard ultra-wealthy financial strategies to fund his life and new business ventures:Collateralized Loans: When Musk needs significant capital, he frequently borrows money from banks against his shares rather than selling them. This allows him to avoid heavy capital gains taxes and maintain absolute control over his companies.Forced Liquidations: When he has sold massive chunks of stock in the past—most notably liquidating billions in Tesla stock to fund his $44 billion acquisition of Twitter (now X)—the money did not go into a bank account. It was immediately transferred to finalize the purchase, leaving his personal liquidity virtually unchanged.

[ATX2030]

Big news.....

Samsung to begin construction of 2nd chip fab in Texas at end of 2026

https://www.koreatimes.co.kr/business/co...-of-2nd-chip-fab-in-texas-at-end-of-2026

Samsung Electronics said Thursday it will begin construction of its second semiconductor fabrication plant, known as Taylor Fab 2, at its facility in Taylor, Texas, at the end of this year.

The world's largest memory chipmaker said during a conference call on its earnings report that it is preparing to start construction of Taylor Fab 2 within 2026, with the goal of beginning production in 2030.

Samsung Electronics added construction of Taylor Fab 1 is progressing as planned, with operations expected to begin in 2026, and plans to gradually expand production capacity for its 2-nanometer process technology after the facility begins operation.

"With growing customer inquiries about the 1.4-nanometer process, we are also reviewing plans to secure additional fabrication capacity," Samsung said. "Detailed plans will be developed in stages based on customer orders and discussions."

The company added that it is transitioning mature processes toward more profitable 3-nanometer production while focusing resources on high-value specialty products with high technological barriers.

[Riverranchdrone]

Originally Posted by ATX2030

Big news.....

Samsung to begin construction of 2nd chip fab in Texas at end of 2026

https://www.koreatimes.co.kr/business/co...-of-2nd-chip-fab-in-texas-at-end-of-2026

Samsung Electronics said Thursday it will begin construction of its second semiconductor fabrication plant, known as Taylor Fab 2, at its facility in Taylor, Texas, at the end of this year.

The world's largest memory chipmaker said during a conference call on its earnings report that it is preparing to start construction of Taylor Fab 2 within 2026, with the goal of beginning production in 2030.

Samsung Electronics added construction of Taylor Fab 1 is progressing as planned, with operations expected to begin in 2026, and plans to gradually expand production capacity for its 2-nanometer process technology after the facility begins operation.

"With growing customer inquiries about the 1.4-nanometer process, we are also reviewing plans to secure additional fabrication capacity," Samsung said. "Detailed plans will be developed in stages based on customer orders and discussions."

The company added that it is transitioning mature processes toward more profitable 3-nanometer production while focusing resources on high-value specialty products with high technological barriers.

Samsung has been taking many of our engineers at ATMC. We are still waiting for a company to buy our Fab as NXP is looking to sell all the old factories in America once it builds its new high tech fabs in Singapore and Germany.

[ATX2030]

Big news.....

Apollo Selects Austin for Strategic Hub for Talent, Innovation and Long-Term Growth

https://ir.apollo.com/news-events/press-...ects-austin-for-strategic-hub-for-talent

August 03, 2026 9:15am EDT

NEW YORK and AUSTIN, Texas, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (Apollo) (NYSE: APO) today announced Austin, Texas, as the location of a new hub built around innovation, emerging technology and the next phase of the firm's growth. The office will be led by Eric Needleman and Mike Downing.

“At Apollo and Athene, we help meet the capital needs of companies and economies, while enabling people to retire with confidence. That mission has driven our innovation for more than three decades, and this new presence is a continuation of that DNA. Change is the only constant, and we'd rather lead it than react to it,” said Apollo CEO Marc Rowan. “Austin lets us build the next generation of Apollo and Athene, including challenger models for parts of our own business, with the talent, technology and business environment already in place. That's why we chose Austin and Texas.”

The new strategic growth hub will incubate emerging and new businesses across our asset management and retirement solutions platform, focused on the flywheel of product, distribution, infrastructure, and market-making. It will also be where the firm evolves its approach to technology and operations, with proximity to companies defining the industry's next phase of growth.

Texas Governor Greg Abbott said, “Texas is the new financial capital of America. Apollo made the right decision when it selected Texas for its new strategic growth hub. Texas already houses the largest financial services workforce in the nation, and this significant expansion in Austin will advance Texas’ global leadership in the financial services sector. For innovative industry leaders who seek stability, speed, and scalability, no better place exists to invest and grow than Texas.”

City of Austin Mayor Kirk Watson said, “Austin is a great investment for business thanks to our ample supply of smart and creative young people. Apollo is choosing Austin because of our talent and our beautiful natural environment, great cultural offerings, and our position as a leader in the innovation economy. It’s exciting that young Austinites graduating from our local universities will have yet another place to start their careers, right here at home, without needing to move to the East Coast or elsewhere. I’m proud that Austin continues to be the place where companies choose to grow, innovate, and make investments in.”

Texas leads the nation in Fortune 500 headquarters, a base that includes a growing concentration of hard-tech, chip manufacturing and defense technology firms alongside the state's long-standing leadership in energy and infrastructure — an ecosystem Apollo believes will support the firm's next phase and aligns with our thesis for the ongoing global industrial renaissance. Apollo’s new presence builds on nearly twenty years of partnerships in Texas, including strategic organizations that connect companies to the established innovation ecosystem. Texas is already among the firm’s top five capital bases, and the firm is well-positioned to deepen its relationships with innovative companies seeking long term capital partners to fuel the forefront of innovation in technology and financial services. Importantly, Austin offers Apollo access to a talent pool distinct from its other locations. Apollo's New York State presence will remain the firm's global headquarters.

[ATX2030]

Originally Posted by ATX2030

Big news.....

Apollo Selects Austin for Strategic Hub for Talent, Innovation and Long-Term Growth

https://ir.apollo.com/news-events/press-...ects-austin-for-strategic-hub-for-talent

August 03, 2026 9:15am EDT

NEW YORK and AUSTIN, Texas, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (Apollo) (NYSE: APO) today announced Austin, Texas, as the location of a new hub built around innovation, emerging technology and the next phase of the firm's growth. The office will be led by Eric Needleman and Mike Downing.

“At Apollo and Athene, we help meet the capital needs of companies and economies, while enabling people to retire with confidence. That mission has driven our innovation for more than three decades, and this new presence is a continuation of that DNA. Change is the only constant, and we'd rather lead it than react to it,” said Apollo CEO Marc Rowan. “Austin lets us build the next generation of Apollo and Athene, including challenger models for parts of our own business, with the talent, technology and business environment already in place. That's why we chose Austin and Texas.”

The new strategic growth hub will incubate emerging and new businesses across our asset management and retirement solutions platform, focused on the flywheel of product, distribution, infrastructure, and market-making. It will also be where the firm evolves its approach to technology and operations, with proximity to companies defining the industry's next phase of growth.

Texas Governor Greg Abbott said, “Texas is the new financial capital of America. Apollo made the right decision when it selected Texas for its new strategic growth hub. Texas already houses the largest financial services workforce in the nation, and this significant expansion in Austin will advance Texas’ global leadership in the financial services sector. For innovative industry leaders who seek stability, speed, and scalability, no better place exists to invest and grow than Texas.”

City of Austin Mayor Kirk Watson said, “Austin is a great investment for business thanks to our ample supply of smart and creative young people. Apollo is choosing Austin because of our talent and our beautiful natural environment, great cultural offerings, and our position as a leader in the innovation economy. It’s exciting that young Austinites graduating from our local universities will have yet another place to start their careers, right here at home, without needing to move to the East Coast or elsewhere. I’m proud that Austin continues to be the place where companies choose to grow, innovate, and make investments in.”

Texas leads the nation in Fortune 500 headquarters, a base that includes a growing concentration of hard-tech, chip manufacturing and defense technology firms alongside the state's long-standing leadership in energy and infrastructure — an ecosystem Apollo believes will support the firm's next phase and aligns with our thesis for the ongoing global industrial renaissance. Apollo’s new presence builds on nearly twenty years of partnerships in Texas, including strategic organizations that connect companies to the established innovation ecosystem. Texas is already among the firm’s top five capital bases, and the firm is well-positioned to deepen its relationships with innovative companies seeking long term capital partners to fuel the forefront of innovation in technology and financial services. Importantly, Austin offers Apollo access to a talent pool distinct from its other locations. Apollo's New York State presence will remain the firm's global headquarters.

...The firm is reportedly looking for at least 250,000 square feet of office space downtown to house what is expected to scale into hundreds or even thousands of local employees. A company spokesperson confirmed they aim to finalize and sign a long-term downtown lease in the coming months.

...Apollo has retained commercial real estate brokers from Newmark Group Inc. to scout long-term permanent locations specifically within the downtown business district.

Wonder where they land DT?

[Armybrat]

Waterline?
Republic?
The Sail?

[Apankow]

The sail is only opening marketing 57,000 feet for lease right now. Meta has space at their SixG sublease though.

Originally Posted by Armybrat

Waterline?
Republic?
The Sail?