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Elon Musk Sends Warning To Businesses: Leave As Soon As Possible

via HBO
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Elon Musk announced SpaceX has moved its incorporation from Delaware to Texas, where Tesla is also headquartered.

This comes after a Delaware judge sided against Musk in a shareholder lawsuit over his Tesla compensation package.

“SpaceX has moved its state of incorporation from Delaware to Texas! If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” Musk said.

Musk urged other companies to leave Delaware as well and has proposed moving Tesla’s incorporation to Texas via shareholder vote.

“Move your company out of Delaware before they lock the doors, as they just did with Tripadvisor,” Musk wrote.

“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,” Musk said.

Last week Neuralink, his neurotech company, moved from Delaware to Nevada after its first human brain implant trial.

Musk has faced investigations into his ventures from the DOJ and SEC following his Twitter acquisition.

By moving incorporation of multiple companies, Musk appears to be distancing from what he views as an unfriendly business environment in Delaware.

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