Recently, there has been a trend of Elon Musk-led companies leaving Delaware and switching their state of incorporation. The departure of other companies has stirred anticipation around Tesla’s potential switch.
Elon Musk used his social media platform X (formerly Twitter) to announce SpaceX’s incorporation move from Delaware to Texas. He also encouraged other companies to consider a similar move, stating that if a company is currently incorporated in Delaware, it should consider relocating to another state as soon as possible.
Neuralink was one of the first companies under Elon Musk’s leadership to switch its state of incorporation, now being incorporated in Nevada as of February 8, 2024. The Boring Company plans to make a similar move by March 2023.
With Neuralink, The Boring Company, and SpaceX having already left Delaware, Tesla remains the only Elon Musk-led company still incorporated in the state. Through a poll posted on X, it was revealed that a majority of Tesla’s supporters and investors are in favor of the auto company making a similar switch to Texas, akin to SpaceX.