Musk says Tesla will hold shareholder vote ‘immediately’ to move company’s incorporation to Texas::Billionaire Elon Musk justified the decision on the results of an unscientific poll run on his X account a day earlier.
Musk says Tesla will hold shareholder vote ‘immediately’ to move company’s incorporation to Texas::Billionaire Elon Musk justified the decision on the results of an unscientific poll run on his X account a day earlier.
This has nothing to do with physical locality.
It’s because he lost a shareholder lawsuit over his exorbitant compensation package, and he’s being a whiny salty baby about it.
To be clear, Tesla is currently incorporated in Delaware, which is already well known for being extremely hostile to shareholder lawsuits like this. He picked the most favourable ground possible and still lost. He’s not going to get better treatment from Texas.
He’s just throwing his toys out of the pram because he’s mad, and forcing the entirety of Tesla to join in his tantrum.
Delaware is considered as a tax haven.