Elon Musk’s SpaceX has switched its state of incorporation from Delaware to Texas. The incorporation switch follows the departure of other Elon Musk-led companies leaving Delaware. Now, everyone is eagerly waiting to see when Tesla will make the switch.
Musk announced the news about SpaceX’s Texas incorporation via his social media platform X—formerly Twitter. He advised other companies to follow suit.
“If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” Musk said on X.
Two of the billionaire’s companies have already switched state incorporations to Nevada, revealing how fast Musk moves once his mind is made up. Neuralink was one of the first Musk-led companies to switch its state of incorporation.
Neurlink is incorporated in Nevada as of February 8, 2024. The Boring Company quickly followed. The tunneling company will switch its state of incorporation to Nevada by March 2023.
With Neuralink, The Boring Company, and SpaceX out of Delaware, Tesla is the only Elon Musk-led company incorporated in the diamond state. According to a poll Musk posted on X, most Tesla supporters and investors want to switch the auto company’s state of incorporation to Texas, similar to SpaceX.
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