Elon Musk said via a Twitter poll that Tesla will hold a shareholder vote on moving its state of incorporation from Delaware to Texas. Over 80% of poll respondents voted yes to relocating, though polls on X’s platform are informal. The move comes after a Delaware judge voided Musk’s $56 billion compensation package from 2018. Musk expressed dislike for Delaware and said, “Never incorporate your company in the state of Delaware,” in a post on his X account. An expert said Texas has more lax standards on CEO pay without liability versus Delaware fiduciary standards.
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Will Tesla Incorporate in Texas? CEO Elon Musk Seeks Shareholder Input on Transferring Tesla’s Incorporation to Texas
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