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Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

Posted on AllSides February 1st, 2024
From The Right

Elon Musk, CEO of Tesla, has revealed plans for a shareholder vote to relocate the electric carmaker’s state of incorporation from Delaware to Texas following a Delaware judge shooting down his gigantic pay package. CNBC reports that Tesla CEO Elon Musk has announced a proposal to move Tesla’s incorporation from Delaware to Texas. The proposed change comes after a Delaware judge nullified Musk’s $56 billion pay package from 2018, raising questions about the fairness and negotiation process of such compensation plans. Tesla, currently incorporated in Delaware, has faced scrutiny over...

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