SpaceX has moved its state of incorporation from Delaware to Texas!
If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible. pic.twitter.com/B7FLByL2dY
— Elon Musk (@elonmusk) February 15, 2024
In a bold move, SpaceX, Elon Musk’s aerospace company, has officially shifted its state of incorporation from Delaware to Texas. The decision, conveyed through a filing with the Texas Secretary of State, comes amid a reported feud between Musk and Delaware, which played politics with Musk over a business decision, and it will cost them. This has prompted the entrepreneur to encourage other companies registered in the state to consider relocating.
Musk expressed his sentiments on social media platform X, recommending businesses to move away from Delaware. The SpaceX CEO also shared a certificate from the Texas Secretary of State’s office acknowledging the filing.
This move aligns with a broader trend among businesses looking for alternatives to Delaware, which has historically held a dominant position in U.S. corporate law. TripAdvisor, under media executive Greg Maffei, is pursuing reincorporation in Nevada, while Elon Musk previously shifted Twitter to X in Nevada. The competition among states, particularly Texas and Nevada, to attract businesses reflects a changing landscape in corporate preferences and legal environments.
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