The Delaware Chancery Court (DCC), one of the State’s three constitutional courts, issued the ruling against Musk, after he gave his support to conservatives and former President Donald Trump.
This is how things are going in the United States under the government of Joe Biden and the extreme left.
According to data from this state in the east of the country, about 80% of the stock market revenues were registered in its territory thanks to both companies of the technology billionaire.
A recent arbitrary decision by the DCC against Musk infuriated the businessman, who considers the court a refuge for ultra-orthodox lawyers and of judges who stand between him, his business vision and his strategic and political decisions.
At the end of January, a judge ruled in favor of a shareholder of the manufacturer Tesla, who requested the annulment of a compensation plan agreed to in 2018 for Musk, the company’s founder, which reached $56 billion.
The move towards conservative states
“SpaceX has moved from Delaware to Texas,” Musk announced Wednesday on his X network (formerly Twitter), adding: “If your company is still registered in Delaware, I recommend moving it to another state as soon as possible,” he advised other investors. .
The incessant attacks now against Musk, very similar to those faced by former President Trump, led him to move SpaceX to Texas, the second most powerful state in the nation.
Musk also moved his start-up that manufactures brain implants, Neuralink, to Nevada, where he set up the X headquarters after purchasing it.
He had also moved Tesla from California to Texas.
In all cases except Tesla, the companies are not publicly traded and Musk has full control of the firms. In cases of publicly held companies, shareholders may have the possibility of blocking a change of headquarters.
Source: With information from AFP.
