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.