SpaceX wants to move its business incorporation location from Delaware to Texas, according to a Wednesday filing to the Texas Secretary of State. The move by the Elon Musk-owned company comes after a Delaware state judge struck down Musk’s 2018 Tesla pay package, siding with a shareholder who had challenged it as excessive. “SpaceX has moved its state of incorporation from Delaware to Texas!” Musk posted on X Wednesday. “Never incorporate your company in the state of Delaware,” Musk posted on X in January. After the pay package ruling, Musk said he is seeking shareholder approval to incorporate Tesla, another company that he leads, in Texas.

Source: CNN February 15, 2024 13:10 UTC