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Apollo Picks Austin for Second HQ, Moves $1.276B Tax Revenue

6/13/2026

Summary

Apollo Picks Austin

Apollo Global Management announced on June 12, 2026 that its second U.S. headquarters will be in Austin, Texas.
Marc Rowan, who led the firm, selected Austin over Florida after evaluating Miami, Palm Beach, Nashville and other sites.
The relocation will divert $1.276 billion of 2025 income-tax payments from New York City, cutting revenue.
Austin’s no state income tax, 24.5 percent vacancy and a growing tech talent pool attracted Apollo, which manages about $1 trillion in assets.

Summary

Apollo Powers AI

Apollo, Blackstone and Broadcom launched a $35 billion AI XPV Platform to support over 20 gigawatts of compute by 2028.
The platform’s first financing backs Anthropic’s compute expansion via a lease tied to Google chips and Fluidstack data centers.
Apollo says Austin’s engineering talent, power-market expertise and proximity to the University of Texas give it an edge over New York in AI-infrastructure financing.

Summary

NY Finance Arrives

Finance professionals relocating from Manhattan to Austin are raising local salary, rent, fee, and senior housing expectations.
Their arrival gives Austin founders access to credit, M&A, and late-stage financing expertise found only in New York.
In a tighter funding market, this proximity can boost a startup’s odds of securing a second investor meeting.
City leaders now face a trade-off between deeper capital resources and rising operating costs for early-stage firms.

History

Historical Context

Following the 1970s loss of about 38 million industrial jobs, the United States introduced enterprise zones to revive distressed areas; the policy later helped Austin attract tech firms and expand its talent pool. In 2024 Apollo Global Management embraced that legacy, moving its headquarters to Austin amid high office vacancy.

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Apollo Picks Austin

Apollo Global Management announced on June 12, 2026 that its second U.S. headquarters will be in Austin, Texas.
Marc Rowan, who led the firm, selected Austin over Florida after evaluating Miami, Palm Beach, Nashville and other sites.
The relocation will divert $1.276 billion of 2025 income-tax payments from New York City, cutting revenue.
Austin’s no state income tax, 24.5 percent vacancy and a growing tech talent pool attracted Apollo, which manages about $1 trillion in assets.

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