SpaceX moves to Texas, days after Delaware court turned against Elon Musk

In a recent announcement, SpaceX CEO Elon Musk revealed that the rocket company has officially moved its state of incorporation from Delaware to Texas. The declaration was made on X, the platform formerly known as Twitter. Musk’s statement encourages other companies to consider relocating out of Delaware, hinting at his dissatisfaction with the state following a court ruling that challenged his compensation package.

This move follows closely on the heels of a Delaware court’s critique of Musk’s pay, labeling it as inappropriate. Furthermore, Musk has expressed intentions to relocate Tesla, the electric vehicle giant he also leads, to Texas. This decision was bolstered by a public poll in which 87% of participants supported the move, leading to plans for a shareholder vote to make Texas Tesla’s new state of incorporation.