So, using public money of the company to invest in these cities increase the value of their personal investments :)
It won't be changing anytime sooner.
Shareholders aren't bothered. I wouldn't be surprized if majority of shareholders by value live in these cities too.
But I remember reading that after WW2 a lot of US companies were expanding and looking for new headquarters. They'd commission huge research teams to find the best location for the new headquarters, spend a lot of time and effort to find a good place.
A book written about 10 or 15 years after many of these companies found that almost invariably the result of the research placed the best location within a short distance of where the CEO was from/currently lived.
So what you're saying doesn't really surprise me :)
Via https://www.joelonsoftware.com/2003/03/28/20030328/
I found this HBR article: https://hbr.org/1989/03/corporate-architecture-from-the-outs...
Which has this quote:
> A dozen years ago, William Whyte, author of the classic book The Organization Man, tried to do just that. The sociologist took his map and phone book and set out to chart which corporate headquarters had gone where and why. Contrary to official rationales, which emphasized corporate enhancement or a disinterested pursuit of the great outdoors, Whyte found that most of the new campus compounds were sited within eight or nine miles of the CEO’s home—a chilling and widely broadcast statistic that jarred with corporate claims about humane treatment for those uprooted in the move.