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SpaceX CEO Elon Musk is so busy with Delaware that he’s pulled the plug on his business from the Mid-Atlantic state after a judge came for a pay check.
As of Wednesday, Musk’s rocket company has applied to move its incorporation place from Delaware to Texas filed To the Texas Secretary of State. “If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” Musk wrote on Twitter.
This step comes shortly after Delaware state judge rules in favor of Tesla shareholder Who filed a lawsuit in 2018 challenging Musk’s salary terms. As a result, Musk’s $55.8 billion pay package at Tesla is at risk, putting his position as the world’s richest person in jeopardy. It is expected that Musk will appeal against this decision.
Delaware is a highly desirable location for businesses, with even more Contains 60% of Fortune 500 companies Due to its favorable tax laws in the state. However, Musk is ready to give it up. Ahead of the SpaceX relocation filing, the billionaire had already applied to move his other company, Neuralink, to Nevada, Bloomberg reported. informed of, However, relocating Tesla out of Delaware may be a little more difficult, as it is a public company, unlike Neuralink and SpaceX.
SpaceX already has friends in Texas. The company’s spaceport, Starbase, is located in Boca Chica and is reportedly SpaceX building A $100 million office and industrial plant in Brownsville. SpaceX is also in the middle controversial land swap deal he was in texas Publicly endorsed by Texas Parks and Wildlife Chairman Jeffrey Hildebrand, It’s clear the red state can’t get enough of Musk.
Do you want to know more about Elon Musk’s space venture? Check out our full coverage SpaceX’s Starship megarocket And this SpaceX Starlink Internet Satellite Megaconstellation, And follow us for more space flight in your life x (formerly Twitter) and bookmarks dedicated to Gizmodo space flight page,
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