The tech billionaire angry about the US state of Delaware Elon Musk (52) is the official headquarters of his space company SpaceX relocated to Texas. The 52-year-old is angry that one Judge in Delaware gave him a share package worth around $56 billion of the electric car manufacturer he also runs Tesla don’t want to admit. Musk had announced that other companies in his area would also move from the company headquarters to the USA to deduct extremely popular Delaware.
Musk and authorities in Texas released documents showing that SpaceX was officially based there as of Wednesday. SpaceX has long had a strong presence in the state: the Starship rocket and satellites of the Starlink communications system are built there, and engines are developed and tested at several locations.
Neuralink is now based in Nevada
His Brain implant company Neuralink Musk had already moved from Delaware to Nevada last week. This is more difficult with Tesla: Unlike SpaceX and Neuralink, the car manufacturer is listed on the stock exchange and is a move would require shareholder approval. Musk announced a corresponding proposal, but so far it has remained that way.
By withdrawing his companies from Delaware, Musk is reacting to the court’s decision on a shareholder lawsuit at the end of January. In 2018, Tesla promised him stock options worth up to $56 billion if ambitious targets for stock market value and business figures were reached. A shareholder sued. Musk was granted the options, but following the Delaware court’s decision he will no longer be able to redeem them, at least for the time being.
Judge Kathaleen McCormick (44) at the responsible court in Delaware found that Musk agreed the compensation plan had too much influence in the background, than one can speak of a fair trial. Shareholders were told that some of those responsible for the decision at Tesla had close ties to Musk.
Agreement with Musk under “unfair circumstances”
In the trial, the judge therefore ruled in favor of the plaintiff, who wants to annul the agreement with Musk. She admitted that the cancellation of the mega deal does not automatically follow from the finding that the agreement was created under unfair circumstances. However, an annulment is the preferred solution in Delaware. “Plaintiff is entitled to annulment,” she wrote in her 200-page ruling. Musk then railed that all companies should leave the state.
Delaware is a very popular company headquarters in the USA due to the favorable tax conditions and corporate jurisdiction that has developed over decades.
Meanwhile, SpaceX continues to be involved in attempting the first commercial moon landing. After several failed attempts by various companies, another has tackled the target with a rocket from SpaceX. The lander “Nova-C” from the US company Intuitive Machines took off from the Cape Canaveral spaceport in the US state of Florida on Thursday, as live images from the US space agency NASA showed. The means of transport was a “Falcon 9” rocket from SpaceX.
Intuitive Machines hopes to land on the moon on February 22nd. It would be the first – albeit unmanned – US moon landing since the Apollo missions over 50 years ago and the first commercial landing on the Earth’s satellite in space history.