Elon Musk announces plans to relocate Tesla’s legal HQ over $55.8 billion pay packet row
Elon Musk has announced plans to relocate Tesla’s legal headquarters from Delaware to Texas following a judge’s decision to nullify his $55.8 billion pay package. The billionaire, 52, took to his X site to warn against incorporating companies in Delaware – stating: “Never incorporate your company in the state of Delaware.” Judge Kathaleen McCormick, presiding in Delaware, criticised the 2018 pay package negotiation, suggesting Tesla directors were “perhaps starry-eyed” due to Elon’s “superstar appeal”, and accused them of failing to fully inform shareholders. She deemed the deal “unfathomable”...