Elon Musk says he has moved the legal home of his rocket company SpaceX from the US state of Delaware to Texas.
Two weeks ago, Mr Musk said electric carmaker Tesla’s shareholders will vote on making the same move. His brain-chip implant firm, Neuralink, has also relocated its legal home to Nevada.
Last month, a judge in Delaware annulled his $55.8bn (£44bn) pay package from Tesla.
Last month, a judge in Delaware annulled his $55.8bn (£44bn) pay package from Tesla.
In a post on on his social media platform X, 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.
She said the deal was “unfathomable” and ruled it should be cancelled.
Elon Musk says he has moved the legal home of his rocket company SpaceX from the US state of Delaware to Texas.
Last month, a judge in Delaware annulled his $55.8bn (£44bn) pay package from Tesla.
Two weeks ago, Mr Musk said electric carmaker Tesla’s shareholders will vote on making the same move. His brain-chip implant firm, Neuralink, has also relocated its legal home to Nevada.
In a post on on his social media platform X, formerly Twitter, the multi-billionaire said: “SpaceX has moved its state of incorporation from Delaware to Texas!”
Last month, a judge in Delaware annulled his $55.8bn (£44bn) pay package from Tesla.
Last month, a judge in Delaware annulled his $55.8bn (£44bn) pay package from Tesla.
In a post on on his social media platform X, 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.
She said the deal was “unfathomable” and ruled it should be cancelled.
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