Elon Musk Proposes Tesla Shareholder Vote to Move Legal Base to Texas
TL;DR
Elon Musk is seeking shareholder approval to incorporate Tesla in Texas after a Delaware court ruling struck down his record pay package. A poll on X showed overwhelming support for the move to Texas, and Musk plans to immediately seek shareholder approval for the relocation. Delaware is known for being business-friendly, but Musk has recommended incorporating in Nevada or Texas. The court ruling invalidated Musk's 2018 salary package, which is currently worth about $51 billion, and criticized the company's directors for being too close to Musk to protect shareholder interests.
- Elon Musk says Tesla shareholders will vote ‘immediately’ on quitting Delaware for Texas CNN
- Elon Musk Announces Tesla Vote on Texas Move After Pay Rejection The Wall Street Journal
- Elon Musk says Tesla will hold a shareholder vote to incorporate in Texas after Delaware pay snub CNBC
- Tesla: Elon Musk moves to shift Tesla legal home to Texas BBC.com
- Elon Musk acts to move Tesla legal base to Texas after pay package ruling The Guardian
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