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The act comes after a Delaware court ordered Musk to give up a Tesla compensation package valued at $55.8 billion
SpaceX is seeking to convert its business incorporation to Texas from Delaware.Photo: dado ruvic/Reuters
Elon Musk’s SpaceX is seeking to convert its business incorporation to Texas from Delaware.
The Secretary of State of Texas on Wednesday issued a certificate evidencing the acceptance and filing of the conversion, according to a filing.
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The rocket company’s move comes about two weeks after a Delaware court ordered Musk to give up a
Tesla
compensation package valued at $55.8 billion.
“Never incorporate your company in the state of Delaware,” Musk wrote on X following the court’s decision, noting that shareholders would be able to vote on whether to move Tesla’s incorporation to Texas from Delaware.