Elon Musk has moved SpaceX, his space exploration company, from the state of Delaware to Texas. This comes after a Delaware judge voided Musk’s $55 billion compensation package for Tesla (Nasdaq: TSLA) ,after a lawsuit that alleged he was overpaid through an exorbitant performance-based equity compensation plan.
After the ruling, Musk warned his followers on X to “never incorporate your company in the state of Delaware.” On Wednesday, he confirmed the transfer saying “if your company is still incorporated in Delaware, I recommend moving to another state as soon as possible.”
The move follows Musk completing the reincorporation of his brain implant company, Neuralink Corp, in the state of Nevada. And even before the Tesla ruling in Delaware, for which he is expected to file for an appeal to the Delaware State Supreme Court, he had already moved the state of incorporation of X, formerly Twitter, to Nevada.
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