AUSTIN, Texas — SpaceX has officially moved its incorporation from Delaware to Texas, CEO Elon Musk posted in an announcement on social media on Wednesday.
SpaceX has already been conducting test launches in South Texas for years. Tesla, the electric vehicle manufacturer owned by Musk, is headquartered in Austin, while two more of Musk's businesses, The Boring Company and Neuralink, also have offices in Central Texas.
Musk’s announcement comes after a judge in Delaware, where the company was registered, ruled that Musk won't get a massive pay package from the company.
Earlier this month, Musk said he also wanted Tesla investors to decide on moving the company’s corporate listing to Texas, where its physical headquarters is located.
Musk had polled X users earlier on the same question, with 87.1% of 1.1 million respondents voting yes. “The public vote is unequivocally in favor of Texas!” he wrote.
Musk, who has previously polled people on X before making decisions, moved Tesla's headquarters to Austin from California in 2021.
His announcement comes after a judge in Delaware, where the company was registered, ruled that Musk is not entitled to a landmark compensation package potentially worth more than $55 billion that was awarded by Tesla’s board of directors.
After the ruling, Musk took to social media to express his displeasure.
“Never incorporate your company in the state of Delaware,” he wrote in one post. He later added, “I recommend incorporating in Nevada or Texas if you prefer shareholders to decide matters.”
The ruling came five years after shareholders filed a lawsuit accusing Musk and Tesla directors of breaching their duties and arguing that the pay package was a product of sham negotiations with directors who were not independent of him.
The defense countered that the pay plan was fairly negotiated by a compensation committee whose members were independent and had lofty performance milestones.