Elon Musk Wants to Reincorporate Tesla in Texas

Elon Musk Wants to Reincorporate Tesla in Texas

Elon Musk Wants to Reincorporate , Tesla in Texas.br On Jan. 31, a Delaware judge ruled that Musk cannot receive a $56 billion pay package that Tesla granted to him in 2018, CNBC reports. .br The ruling was largely due to the fact that Musk was in control of the board of directors when he received the package.br Musk disagreed with the ruling, br taking to X to say, "Never incorporate br your company in the state of Delaware.".br The Tesla CEO later posed a question br to the public, asking if the company should change its state of incorporation.br It is not yet known when the br shareholder vote will take place.br Columbia Law School professor Eric Talley br told CNBC that Texas makes sense for Tesla.br In addition to its physical headquarters br being there, the state is more lenient about paying CEOs large sums of money.br If reincorporated in Texas, the board could potentially choose to award Musk a "gratitude" bonus, Talley said.


User: Wibbitz Top Stories

Views: 8K

Uploaded: 2024-02-01

Duration: 01:30

Your Page Title