Palantir Decamps to Miami Co-Working Space in Surprise Move
(Bloomberg) — Palantir Technologies Inc. On Tuesday, it surprised everyone by announcing in a short social media post that it was moving its headquarters from Denver to Miami.
The company offered a few more details beyond its post about X: “We moved our headquarters to Miami, Florida.”
In Colorado, aides to the governor and Denver’s mayor’s offices said they did not provide advance notice. In Florida, supporters of the region’s insipid tech scene cheered the news as further validation of efforts to make the sunny, low-tax regime attractive to businesses and billionaires.
A few more details were included in a 10-K filing with the Securities and Exchange Commission on Tuesday. Palantir has listed the new address for its “main executive offices,” which extend into a co-working space in Aventura, about 17 miles north of downtown Miami.
The location perhaps points to the hasty nature of the move and the fact that Palantir won’t (at least initially) have a large number of employees in the area. Other companies that have moved their headquarters to South Florida in recent years, such as Citadel, have kept most of their employees in major financial capitals like New York, even as top executives like Ken Griffin have fled south.
Palantir is, of course, looking for more permanent office space in prime Miami locations, including Wynwood, Brickell or Coral Gables, according to a person with knowledge of the matter.
A Palantir spokesperson declined to comment. A receptionist at the Industrious co-working space in Aventura declined to say whether Palantir was a tenant when contacted by phone.
With the headquarters move, Palantir would officially become the most valuable publicly traded company headquartered in Florida, far surpassing NextEra Energy Inc. with a market cap of about $332 billion. At the end of last year, the company reported 4,429 full-time employees, 28% of whom were outside the United States. The company continues to have other offices in places such as Palo Alto, California, New York and Washington DC.
Although the state of Colorado has lower corporate taxes than Florida, the “Sunshine State” does not charge personal income taxes, which is an incentive for employees living here. And if financial firms are any indication, when it comes to expensive real estate, South Florida is turning to top executives first.
Peter Thiel, the billionaire technologist and chairman of Palantir, recently moved his investment firm into an office in Wynwood, Miami’s growing arts, shopping and entertainment district. He also owns a home in the city and the Founders Fund has an office there.
More stories like this available Bloomberg.com
