From Nasdaq:

SpaceX, Elon Musk’s rocket company, has relocated its state of incorporation from Delaware to Texas, according to a Wednesday announcement by Musk. This move follows a recent decision by a Delaware judge to invalidate Musk’s $56-billion pay package, prompting plans to transfer Tesla’s state of incorporation to Texas, where its headquarters are located.

After a poll showed 87% in favor of relocating Tesla’s incorporation to Texas, Musk is moving forward with plans to hold a public shareholder vote. Neurotechnology company Neuralink, also founded by Musk, recently changed its state of incorporation from Delaware to Nevada, indicating a broader shift in Musk’s corporate strategy.

The moves are part of a strategic effort by Musk to centralize his companies in Texas following the legal setback in Delaware. SpaceX joins Tesla and Neuralink in transitioning its state of incorporation to Texas, where Musk’s companies already have a significant presence and influence. This trend highlights the growing appeal of Texas as a hub for innovative and forward-thinking companies like those led by Musk.



Read more: Musk says SpaceX has moved its incorporation to Texas from Delaware