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Musk says SpaceX has moved its incorporation to Texas from Delaware

Reuters
·1-min read

(Reuters) - Rocket company SpaceX has moved its state of incorporation to Texas from Delaware, CEO Elon Musk said Wednesday in a post on X.

"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 on the platform, formerly known as Twitter.

The move comes after the billionaire founder and electric vehicle maker Tesla's CEO said earlier this month that he will hold a shareholder vote to move Tesla's state of incorporation to Texas, where it has its headquarters, after a Delaware judge invalidated his $56-billion pay package.

"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 on X earlier this month after holding a poll where 87% respondents voted "yes" for Tesla's change of incorporation.

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Musk's brain-chip implant company, Neuralink also changed its location of incorporation from Delaware to Nevada last week.

(Reporting by Utkarsh Shetti and Akanksha Khushi in Bengaluru; Editing by Rashmi Aich)