German Manager Magazine: Elon Musk wants to move to Texas with Tesla after a dispute over the judge’s share package003070

Tesla-Boss Elon Musk (52) wants to move away from the US state of Delaware with the electric car manufacturer after a judge’s ruling was unfavorable to him and is therefore asking the shareholders to approve a move to Texas. “Public opinion is unanimously for Texas! “Tesla will immediately call a shareholder meeting so that the company can fully relocate to Texas,” Musk wrote on his Platform X.

On Tuesday, a judge in Delaware entered into an agreement $56 billion compensation package for Musk’s top job declared invalid. He then started a survey on X asking whether Tesla should officially register in Texas. More than 87 percent of the 1.1 million votes cast were in favor of it.

Business-friendly policies

According to the service provider Harvard Business Services, which helps companies set up in Delaware, Delaware is considered particularly business-friendly. More than half of all listed companies in the USA According to the information, they have their legal headquarters in the state.

It is not the first time that Musk has moved after a dispute with authorities. Tesla has already moved its operational headquarters from California to Austin, Texas in 2021. This was preceded by an exchange of blows with the health authorities when it came to reopening the factory in Fremont shortly after the outbreak of the corona pandemic.

Musk had also protested against regulations and taxes in California. Also other companies owned by the billionaire such as the space company SpaceX and The Boring Company, which digs tunnels for transportation systems, are based in Texas.

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