- Elon Musk is completed with the state of Delaware.
- Musk says he will name a shareholder vote to switch Tesla’s incorporation to Texas.
- The choice comes after a Delaware choose voided his $55 billion compensation package deal at Tesla.
Over 1,000,000 customers responded to Musk’s ballot on whether or not he ought to shift Tesla’s state of incorporation to Texas, where its headquarters already are. Musk’s ballot had 1,102,554 votes forged on it, of which 87.1% of respondents voted “sure.”
“Tesla will transfer instantly to carry a shareholder vote to switch state of incorporation to Texas,” Musk wrote on X.
The general public vote is unequivocally in favor of Texas!
Tesla will transfer instantly to carry a shareholder vote to switch state of incorporation to Texas. https://t.co/ParwqQvS3d
— Elon Musk (@elonmusk) February 1, 2024
Musk’s announcement comes after a choose in Delaware voided his $55 billion compensation package at Tesla.
Musk is not paid a wage for his work as Tesla CEO. As a substitute, his pay package deal relies on a collection of objectives which are tied to Tesla’s monetary development.
In response to the package deal, Musk can be granted inventory equal to 1% of Tesla’s excellent shares each time he met the 12 tranches of development targets.
The ruling in Delaware may threaten Musk’s title as the world’s richest person, given that almost all of his wealth is tied to his fairness in Tesla.
“By no means incorporate your organization within the state of Delaware,” Musk wrote on X on Tuesday.
Representatives for Tesla didn’t instantly reply to a request for remark from Enterprise Insider despatched outdoors common enterprise hours.