SpaceX's Legal Headquarters Transferred by Elon Musk to Texas Instead of Delaware

Elon Musk has announced that his rocket company, SpaceX, has relocated its legal home from Delaware to Texas. This comes after he revealed that Tesla, the electric carmaker, will also have a shareholder vote to make a similar move. Musk's brain-chip implant firm, Neuralink, has already shifted its legal home to Nevada. Last month, a judge in Delaware invalidated Musk's $55.8 billion pay package from Tesla, leading him to recommend that other companies move away from Delaware as well. Musk took to his social media platform, X (formerly Twitter), to share the news of SpaceX's move and encouraged companies still incorporated in Delaware to follow suit. Many notable US corporations, like Amazon, are registered in Delaware due to its favorable tax regulations. The recent court ruling deemed Musk's pay package unfathomable and called for it to be canceled. Despite the legal action being initiated by a shareholder who owned just nine Tesla shares, the poll Musk conducted on X received overwhelming support for a change in Tesla's state of incorporation, with over 1.1 million votes and over 87% in favor of Texas. As a result, Tesla moved its corporate headquarters from Palo Alto, California to Austin, Texas in 2021.