Apollo Global Management picks Austin for its second US HQ, citing talent and tax benefits.

Apollo Global Management has chosen Austin, Texas, as the location for its second US headquarters, moving away from New York City. The decision was influenced by Austin's appeal to talent unwilling to pay New York prices and the absence of state income tax. This move signals a potential loss of significant tax revenue for New York, as Apollo paid over $1.2 billion in income taxes in 2025. The trend of financial firms relocating to southern states like Texas reflects broader business shifts driven by tax and regulatory environments.