SpaceX, the rocket company led by CEO Elon Musk, has relocated its state of incorporation from Delaware to Texas, Musk revealed in a post on X, the platform formerly known as Twitter.
In his announcement, Musk urged other companies still incorporated in Delaware to consider moving to a different state swiftly. This move follows Musk's recent declaration that electric vehicle manufacturer Tesla, of which he is also CEO, will seek shareholder approval to shift its state of incorporation to Texas, where its headquarters are located. This decision came after a Delaware judge nullified Musk's $56-billion pay package.
After conducting a poll on X, in which 87% of respondents voted in favor of Tesla's change of incorporation, Musk affirmed the public's overwhelming support for Texas. Consequently, he announced Tesla's immediate plans to hold a shareholder vote for the relocation of incorporation.
Additionally, Musk's brain-chip implant venture, Neuralink, shifted its incorporation location from Delaware to Nevada last week.