Tesla CEO Elon Musk on Thursday said the electric vehicle maker will hold a shareholder vote soon to transfer the company’s state of incorporation to Texas, after publicly lashing out at Delaware—where the company is currently incorporated—over a court decision that voided the billionaire’s massive $55.8 billion pay package.
Tesla CEO Elon Musk said the company will soon hold a shareholder vote to transfer the company's ... [+]
In a post on X, Musk said Tesla would “move immediately” to conduct the vote without specifying an exact date.
Musk cited a poll on his X account, as the rationale behind the decision was that the “public vote” was “unequivocally in favor of Texas.”
The unscientific poll asking Musk’s followers if the company should change its state of incorporation to Texas received over 1.1 million votes, with 87% voting “Yes.”
This is a developing story.