It comes after a judge in Delaware annulled his $55.8bn pay package from electric carmaker Tesla.
Elon Musk says he has moved the legal home of his rocket company SpaceX from the US state of Delaware to Texas.. His brain-chip implant firm, Neuralink, has also relocated its legal home to Nevada.Mr Musk has also recommended that other firms move away from Delaware., formerly Twitter, the multi-billionaire said: "SpaceX has moved its state of incorporation from Delaware to Texas!"
"If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible," he added. Many big US corporations, including Amazon, are registered in Delaware, which is known for having light taxation. On 30 January, Judge Kathaleen McCormick found that Tesla directors, who negotiated Mr Musk's pay package in 2018, were "perhaps starry eyed" due to his "superstar appeal" and did not fully inform shareholders.The pay deal was the biggest to date in US corporate history, helping to make Mr Musk the richest person in the world.
Following the ruling, Mr Musk launched a poll on X, asking if Tesla should change its state of incorporation to Texas."The public vote is unequivocally in favor of Texas!," Mr MuskThe electric carmaker moved its corporate headquarters from Palo Alto in California to Austin, Texas in 2021.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Elon Musk is breaking up with DelawareDelaware has long been the go-to place for companies to incorporate. Can Elon Musk change that?
Read more »
Bury chicken shop boss loses £12,000 in Tesla trademark rowAmanj Ali has been left out of pocket after taking on Elon Musk's company in the dispute.
Read more »
Juliette Binoche on Acting With Her Ex, Benoît Magimel: “I Was Very Moved”As The Taste of Things is released, Juliette Binoche talks about acting alongside Benoît Magimel – with whom she shares a child – and what she actually cooks at home
Read more »
Teen used angle grinder in bizarre ping pong game with two schoolgirlsCody Chitty's problems began when he moved to Lancashire
Read more »
Battle for the soul of Ashton Park: Legal challenge expected after residents ‘totally ignored’ in favour of ambitious plansA question mark still hangs over the fate of a popular Chorley GP after NHS bosses said they needed time to consider specialist legal advice before deciding how to determine the future of her practice.
Read more »
Battle for the soul of Ashton Park: Legal challenge expected after residents 'totally ignored' in favour of ambitious plansCouncillors and residents have called for an urgent rethink over a set of roadworks in suburban Preston, amid reports of multiple accidents in a matter of days.
Read more »