SpaceX Leaves Delaware; Should Others Follow?
Strictly Business
MAY 22, 2024
Overview On January 30, 2024, the Delaware Chancery Court voided Elon Musk’s $55.8 billion pay package as CEO of Tesla, ruling that the process leading to the approval of Musk’s Tesla compensation plan was “deeply flawed” and unfair to Tesla’s shareholders. In response, Musk expressed public criticism of the Court’s decision, including posting on X (formerly Twitter) that entrepreneurs and founders should “never incorporate your company in the state of Delaware.
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