"SpaceX Relocates to Texas as Elon Musk Seeks New Testing Grounds"

Elon Musk announced that SpaceX has moved its state of incorporation from Delaware to Texas after a Delaware court voided his $56 billion compensation package at Tesla. The move comes after a shareholder lawsuit argued that Musk's close ties with directors who negotiated the package weren't properly disclosed, and the judge found that the performance targets were easier to meet than acknowledged. Musk criticized the ruling and recommended against incorporating companies in Delaware, also proposing a shareholder vote to relocate Tesla to Texas, which received overwhelming support. SpaceX's status as a privately-held company allowed for an expedited process of changing its state of incorporation.