SpaceX files to move incorporation site from Delaware to Texas

SpaceX
has
filed
to
change
its
incorporation
location
to
Texas
from
Delaware,
according
to
public
filings
with
the

Texas
Secretary
of
State.

It’s
the
latest
move
by

Elon
Musk
following
a
Delaware
Chancery
Court
ruling
that
ordered


Tesla
to
rescind
the
CEO’s
2018
pay
package,
worth
about
$56
billion
in
options.
Neuralink,
another
one
of
Musk’s
companies,
has
also
begun
moving
its
location
of
incorporation
from
Delaware
to
Nevada.

Musk
voiced
a
strong
preference
for moving
his
businesses
out
of
Delaware following
the
court’s
decision,
and
has
encouraged
other
businesses
to
do
so
as
well.
He
has
also
promised
that
Tesla
will
hold
a
shareholder
vote
to
get
approval
to
move
the
company’s
site
of
incorporation
to
Texas.

“SpaceX
has
moved
its
state
of
incorporation
from
Delaware
to
Texas!”
Musk
wrote
in
a

post
on
X
on
Wednesday.
“If
your
company
is
still
incorporated
in
Delaware,
I
recommend
moving
to
another
state
as
soon
as
possible.”

Musk
is
expected
to
file
for
appeal
to
the
Delaware
State
Supreme
Court
regarding
his
pay
package.
If
the
ruling
stands
he
will
lose
his
options
but
not
any
shares
he
previously
held.

Even
before
the
ruling,
Musk
was
exiting
Delaware.
After
leading
the
$44
billion
buyout
of
Twitter
in
2022,
he
renamed
it
X
and
moved
its
site
of
incorporation
to
Nevada.

SpaceX
and
Musk
didn’t
immediately
respond
to
a
request
for
comment.

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