Elon Musk announced Wednesday that SpaceX is moving its state of incorporation to Texas from Delaware, a move hailed by the Lone Star State’s governor.
The decision followed a recent ruling by a Delaware judge that sided with a Tesla shareholder’s lawsuit challenging Musk’s $56 billion pay package as being excessive. Musk is the CEO of Tesla, a maker of electric vehicles, and the founder and CEO of SpaceX, a spacecraft and telecommunications company.
Musk conducted a poll on X, formerly Twitter, which he also owns, for shareholders to vote on whether the privately held SpaceX should relocate to Texas.
According to Musk, the poll found that 87% of participants supported SpaceX’s move to Texas. “The public vote is unequivocally in favor of Texas! Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas,” he…
