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SpaceX is now incorporated in Texas, says Elon Musk| GuyWhoKnowsThings


Rocket company SpaceX changed its place of incorporation to Texas from Delaware, its founder Elon Musk said Wednesday, weeks after a Delaware judge voided his pay package at Tesla, another company he owns.

Texas Secretary of State Jane Nelson issued a certificate confirming that the state accepted the company's request to relocate its constitution on Wednesday, according to a copy of the document that was posted on her office's website. A spokeswoman for Nelson's office did not immediately respond to a request for comment.

Mr. Musk, a billionaire who lives in texas and also runs the automaker Tesla, has had trouble with Delaware. Last month, a judge annulled the salary package that had helped make him the richest person in the world.

That case was brought by a group of Tesla shareholders who were challenging a stock option package that allowed Musk to acquire about 304 million Tesla shares at a preset price ($23.34 per share) if the company achieved certain goals. The judge ultimately ruled that Musk had effectively overseen his own compensation plan, valued at more than $50 billion last month, with the help of compliant board members.

“If your company is still incorporated in Delaware, I recommend you move to another state as soon as possible,” Musk wrote Wednesday on X, the social media platform he owns, in a post announcing the SpaceX news.

Musk announced the move hours before the company launched a robotic lander that attempt to take NASA payloads to the moon. The launch time had been postponed until early Thursday morning starting Wednesday due to a technical problem.


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