Musk Moves SpaceX to Texas "Tesla Also Preparing"

SpaceX Corporate Headquarters Moves from Delaware to Texas
Dissatisfaction over 'Tesla 74 Trillion Won Stock Option Invalid' Ruling

Elon Musk, CEO of Tesla, has moved the corporate headquarters of his space company SpaceX from Delaware to Texas.

On the night of the 14th (local time), Musk posted on his social media account X (formerly Twitter), "Texas is the new home for SpaceX," and added, "If your company is still incorporated in Delaware, I recommend moving it to another state as soon as possible."

[Photo by Yonhap News]

This move by Musk is interpreted as a response to a ruling by the Delaware court on the 30th of last month. The Delaware court invalidated a $56 billion (approximately 74 trillion won) compensation package approved by Tesla's board for Musk.

Immediately after the ruling, Musk expressed his dissatisfaction on X by posting "Never incorporate your company in Delaware," and showed his intention to move Tesla's corporate headquarters from Delaware to Texas through a shareholder vote. Since SpaceX is a privately held company, it is easier to change its corporate location, but Tesla, as a publicly traded company, requires time to go through procedures such as shareholder voting.

Previously, it was reported that Musk also moved the corporate headquarters of Neuralink, a neurotechnology startup he founded, from Delaware to Nevada.

Meanwhile, Delaware is considered the most preferred location for companies due to its business-friendly laws and long-established case law that strongly protect corporate boards and management.