Elon Musk’s SpaceX Ditches Delaware For Texas

Elon Musk and SpaceX are ditching Delaware and changing the incorporation location to Texas after a spat with the Delaware Chancery Court, which ordered the rescinding of Musk's $56 billion Tesla CEO pay package for 2018.

Elon refused to go down without a fight and has been very vocal about his frustration on X.

Musk posted on his personal X account last Wednesday, "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."

I just wonder what it's like to be so rich and powerful that you can throw shade at an entire state. Wild.

So, what does this mean for Delaware? What does it mean for Texas?

Musk is expected to try to appeal the decision regarding his pay package by the Delaware State Supreme Court. If he isn't successful with the appeal, he'll lose his options, but he will not lose any of the shares of SpaceX that he previously held.

It's also important to note that Musk was already trying to get the heck out of Delaware, even before the court's ruling.

When one of the richest, most powerful, and most intelligent people in the world chooses Texas as the new ultimate home for their business venture, it sort of makes you proud to be a Texan.

Or, it might even make you a little bit nervous for the future...

What do you think about it? I'd love to hear from you. Feel free to comment below this article wherever you read it, or shoot me an email at Chrissy.Covington@townsquaremedia.com...

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