Musk moves Neuralink incorporation from Delaware to Nevada as he rails against $55 billion pay decision

by MMC
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The company finalized the move Thursday, it said in a notice sent to shareholders, according to the report.

Musk quickly made his feelings about the decisions clear in a series of posts on X, formerly Twitter.

“Never incorporate your business in the State of Delaware,” he said in a message.

“I recommend incorporating in Nevada or Texas if you prefer to have shareholders decide the issues,” he said. added.

Musk previously moved X’s place of incorporation to Nevada from Delaware after changing its name, Bloomberg reported.

Musk also signaled his intention to reincorporate Tesla, moving the company out of Delaware again.

Following the decision canceling Musk’s $55 billion payment, the Tesla CEO shared a poll on his X profile, asking whether the company should move its incorporation to Texas.

“The public vote is unequivocally in favor of Texas,” he said. wrote after the results showed that those who responded were 87.1% in favor of this decision. “Tesla will immediately hold a shareholder vote to transfer its state of incorporation to Texas.”

Delaware, home to 1.3 million legal entities, is known as the corporate incorporation capital of the United States, with more than 60 percent of the nation’s Fortune 500 companies incorporated there, according to the official state website.

The state is attractive to large businesses thanks to long-standing legal precedents, access to expert business lawyers, and the state’s corporate law status providing “predictability and stability.”

Neuralink performed its first human brain implantation in January, and the patient appears to be recovering well, Musk said.

The company says its initial goal is to find a way to allow humans to control a computer keyboard or cursor with their thoughts.

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