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Elon Musk

22 hours ago

SpaceX Relocates State of Incorporation to Texas Following Elon Musk's Controversy with Delaware Court

Benzinga
Benzinga
Elon Musk announced on Twitter that SpaceX has moved its state of incorporation from Delaware to Texas after a Delaware court revoked Musk's $56 billion compensation package from Tesla. Musk had criticized the ruling, saying entrepreneurs should never incorporate in Delaware. He previously polled Twitter users about relocating Tesla to Texas, which they overwhelmingly supported. As a private company, SpaceX could more quickly change its state of incorporation than Tesla as a public firm. Musk celebrated the SpaceX move to Texas by posting its logo over a silhouette of the state.
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