The same decision will be put to a vote by Tesla’s shareholders, according to statements made by Elon Musk two weeks ago. Neuralink, his brain-chip implant company, has likewise moved its legal headquarters to Nevada.
A Delaware judge revoked his $55.8 billion (£44 billion) compensation deal from Tesla last month.
Additionally, Mr. Musk has suggested that other businesses relocate from Delaware.
“SpaceX has moved its state of incorporation from Delaware to Texas!” the multibillionaire stated in a statement on his social media site X, which was originally Twitter.
“If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” he stated.
Delaware, which has a reputation for having low taxes, is where many large US firms, like Amazon, are registered.
Judge Kathaleen McCormick concluded on January 30 that Tesla directors, who were involved in negotiating Mr. Musk’s 2018 compensation package, were “perhaps starry eyed” because of his “superstar appeal” and failed to fully disclose information to shareholders.
She declared the agreement to be “unfathomable” and decided it had to be canceled.
The compensation package, which made Mr. Musk the richest person in the world, was the largest in US business history to date.
At the moment, Mr. Musk’s estimated net worth is $200 billion.
Elon Musk is who?
Tesla’s compensation plan does not include a salary for Mr. Musk; instead, it links his remuneration to performance metrics like the company’s profitability and share price.
