According to public filings with the Texas Secretary of State, SpaceX has applied to change its incorporation location from Delaware to Texas.
Elon Musk’s latest move follows a Delaware Chancery Court ruling that ordered Tesla to rescind the CEO’s 2018 pay package, totaling $56 billion in options. Another of Musk’s companies, Neuralink, has begun to move its incorporation from Delaware to Nevada.
Following the court’s decision, Musk expressed a strong preference for moving his businesses out of Delaware and encouraged others to do the same. He has also promised that Tesla will hold a shareholder vote to move the company’s incorporation to Texas.
“SpaceX has moved its state of incorporation from Delaware to Texas!” Musk wrote in a post on X on Wednesday. “If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible.”