Musk said Tesla shareholders would vote on moving the company to Texas. By Reuters
© Reuters. FILE PHOTO: Fast charging a Tesla electric vehicle (EV) using a Tesla Supercharger at the Buc-ee Travel Center and Gas Station in Baytown, Texas, USA, March 18, 2023. REUTERS/Bing Guan/file photo
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(Reuters) – Tesla Inc will immediately hold a shareholder vote to move the electric vehicle (EV) maker’s incorporation from Delaware to Texas, CEO Elon Musk said in a post to X on Thursday. Yes.
The billionaire’s comments come two days after a Delaware judge threw down Tesla’s (NASDAQ:) record $56 billion pay package, calling the compensation awarded by the EV maker’s board an “incalculable sum” that was unfair to shareholders. This is from .
After the ruling, Musk posted on Social Media X, “Never incorporate a company in Delaware.”
He then launched a survey in X asking whether Tesla should change its state of incorporation to Texas. Of the more than 1.1 million votes cast, more than 87% were in favor of the change.
In a recent post on
Tesla moved its headquarters from California to Texas in 2021 after Musk harshly criticized California’s regulations and taxes.
