newsinsightplus.com 11s200bn.Who February 15, 2024 0 Comments BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityBusinessMarket DataEconomyYour MoneyCompaniesTechnology of BusinessCEO SecretsArtificial IntelligenceElon Musk says SpaceX legal home moved to Texas from DelawarePublished22 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesBy Mariko OiBusiness reporterElon Musk says he has moved the legal home of his rocket company SpaceX from the US state of Delaware to Texas.Two weeks ago, Mr Musk said electric carmaker Tesla will hold a shareholder vote on making a similar move. His brain-chip implant company, Neuralink, is also now incorporated in Delaware.Last month, a judge in Delaware annulled his $55.8bn ($44bn) pay package from electric car maker Tesla.Mr Musk has also recommended that other firms move away from Delaware.In a post on on his social media platform X, formerly Twitter, the multi-billionaire said: “SpaceX has moved its state of incorporation from Delaware to Texas!””If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” he added.Many big US corporations, including Amazon, are registered in Delaware, which is known for having light taxation.On 30 January, Judge Kathaleen McCormick found that Tesla directors, who negotiated Mr Musk’s pay package in 2018, were “perhaps starry eyed” due to his “superstar appeal” and did not fully inform shareholders.She said the deal was “unfathomable” and ruled it should be cancelled.The pay deal was the biggest to date in US corporate history, helping to make Mr Musk the richest person in the world.Mr Musk currently has an estimated net worth of around $200bn.Who is Elon Musk? Tesla’s pay package tied Mr Musk’s compensation to performance targets, such as the firm’s share price and profitability, but he does not receive a salary.The lawsuit was filed by a shareholder, Richard Tornetta, who argued that it was an overpayment.Despite owning just nine Tesla shares, Mr Tornetta launched legal action calling for the award to be rescinded. Following the ruling, Mr Musk launched a poll on X, asking if Tesla should change its state of incorporation to Texas.The poll had more than 1.1 million votes with over 87% voting in favour of the change.”The public vote is unequivocally in favor of Texas!,” Mr Musk posted on X.The electric car maker moved its corporate headquarters from Palo Alto in California to Austin, Texas in 2021.Related TopicsElon MuskSpaceXTeslaTwitterMore on this storyX took payment from terrorists, campaigners sayPublished2 hours agoThe planespotter angering Taylor Swift and Elon MuskPublished4 days agoElon Musk funds Gina Carano lawsuit against DisneyPublished6 FebruaryCan Musk’s Neuralink brain chip really change the world?Published4 FebruaryMusk moves to shift Tesla’s legal home to TexasPublished1 FebruaryJudge annuls Musk’s ‘unfathomable’ $56bn Tesla payPublished31 JanuaryTop StoriesOne dead and 21 injured in Super Bowl parade shootingPublished21 minutes agoUkraine claims sinking of Russian ship off CrimeaPublished11 hours agoIsrael launches deadly air strikes in LebanonPublished4 hours agoFeaturesThe Papers: ‘Worst antisemitism for 40 years’ and ‘NHS nurses crisis’Denise Welch: I’ve had to come to terms with my pastFace to face with inmates in El Salvador’s mega-jailSwatting hoax an ‘assassination attempt’ – US politicianFrench migration row engulfs island in Indian OceanFuture data centres may have built-in nuclear reactorsThe chilly train dubbed Scotland’s ‘polar express’Moment Russian ship struck by Ukrainian drones. VideoMoment Russian ship struck by Ukrainian dronesFull cemeteries and empty homes: Ukrainians struggle two years after invasionElsewhere on the BBCExperience Apollo 11’s adventure first-hand!Discover the awe-inspiring journey of Apollo 11 and its crew with newly released cockpit audioAttributioniPlayerWhat holds us back from exercising as we age?James Gallagher explores the mental and physical barriers that may stop usAttributionSoundsOne of the most densely populated places on earthUncover the hidden systems and armies of people running Hong KongAttributioniPlayerThe surprising health benefits of sleeping moreCould going to sleep one hour earlier dramatically improve your mood and health?AttributionSoundsMost Read1One dead and 21 injured in Super Bowl parade shooting2’Worst antisemitism for 40 years’ and ‘NHS nurses crisis’3Top Republican warns of new national security threat4Nightclub boss blames lack of students for closures5Israel launches deadly air strikes in Lebanon6Denise Welch: I’ve had to come to terms with my past7Australian parliament urges US and UK to free Assange8Harry tries sit-skiing at Invictus Games training camp9UK antisemitic hate crimes hit new high – report10Man poisoned couple and rewrote will – court told [ad_1] It comes after a judge in Delaware annulled his $55.8bn pay package from electric carmaker Tesla. 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newsinsightplus.com 11s200bn.Who February 15, 2024 0 Comments BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityBusinessMarket DataEconomyYour MoneyCompaniesTechnology of BusinessCEO SecretsArtificial IntelligenceElon Musk says SpaceX legal home moved to Texas from DelawarePublished22 minutes agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesBy Mariko OiBusiness reporterElon Musk says he has moved the legal home of his rocket company SpaceX from the US state of Delaware to Texas.Two weeks ago, Mr Musk said electric carmaker Tesla will hold a shareholder vote on making a similar move. His brain-chip implant company, Neuralink, is also now incorporated in Delaware.Last month, a judge in Delaware annulled his $55.8bn ($44bn) pay package from electric car maker Tesla.Mr Musk has also recommended that other firms move away from Delaware.In a post on on his social media platform X, formerly Twitter, the multi-billionaire said: “SpaceX has moved its state of incorporation from Delaware to Texas!””If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” he added.Many big US corporations, including Amazon, are registered in Delaware, which is known for having light taxation.On 30 January, Judge Kathaleen McCormick found that Tesla directors, who negotiated Mr Musk’s pay package in 2018, were “perhaps starry eyed” due to his “superstar appeal” and did not fully inform shareholders.She said the deal was “unfathomable” and ruled it should be cancelled.The pay deal was the biggest to date in US corporate history, helping to make Mr Musk the richest person in the world.Mr Musk currently has an estimated net worth of around $200bn.Who is Elon Musk? Tesla’s pay package tied Mr Musk’s compensation to performance targets, such as the firm’s share price and profitability, but he does not receive a salary.The lawsuit was filed by a shareholder, Richard Tornetta, who argued that it was an overpayment.Despite owning just nine Tesla shares, Mr Tornetta launched legal action calling for the award to be rescinded. Following the ruling, Mr Musk launched a poll on X, asking if Tesla should change its state of incorporation to Texas.The poll had more than 1.1 million votes with over 87% voting in favour of the change.”The public vote is unequivocally in favor of Texas!,” Mr Musk posted on X.The electric car maker moved its corporate headquarters from Palo Alto in California to Austin, Texas in 2021.Related TopicsElon MuskSpaceXTeslaTwitterMore on this storyX took payment from terrorists, campaigners sayPublished2 hours agoThe planespotter angering Taylor Swift and Elon MuskPublished4 days agoElon Musk funds Gina Carano lawsuit against DisneyPublished6 FebruaryCan Musk’s Neuralink brain chip really change the world?Published4 FebruaryMusk moves to shift Tesla’s legal home to TexasPublished1 FebruaryJudge annuls Musk’s ‘unfathomable’ $56bn Tesla payPublished31 JanuaryTop StoriesOne dead and 21 injured in Super Bowl parade shootingPublished21 minutes agoUkraine claims sinking of Russian ship off CrimeaPublished11 hours agoIsrael launches deadly air strikes in LebanonPublished4 hours agoFeaturesThe Papers: ‘Worst antisemitism for 40 years’ and ‘NHS nurses crisis’Denise Welch: I’ve had to come to terms with my pastFace to face with inmates in El Salvador’s mega-jailSwatting hoax an ‘assassination attempt’ – US politicianFrench migration row engulfs island in Indian OceanFuture data centres may have built-in nuclear reactorsThe chilly train dubbed Scotland’s ‘polar express’Moment Russian ship struck by Ukrainian drones. VideoMoment Russian ship struck by Ukrainian dronesFull cemeteries and empty homes: Ukrainians struggle two years after invasionElsewhere on the BBCExperience Apollo 11’s adventure first-hand!Discover the awe-inspiring journey of Apollo 11 and its crew with newly released cockpit audioAttributioniPlayerWhat holds us back from exercising as we age?James Gallagher explores the mental and physical barriers that may stop usAttributionSoundsOne of the most densely populated places on earthUncover the hidden systems and armies of people running Hong KongAttributioniPlayerThe surprising health benefits of sleeping moreCould going to sleep one hour earlier dramatically improve your mood and health?AttributionSoundsMost Read1One dead and 21 injured in Super Bowl parade shooting2’Worst antisemitism for 40 years’ and ‘NHS nurses crisis’3Top Republican warns of new national security threat4Nightclub boss blames lack of students for closures5Israel launches deadly air strikes in Lebanon6Denise Welch: I’ve had to come to terms with my past7Australian parliament urges US and UK to free Assange8Harry tries sit-skiing at Invictus Games training camp9UK antisemitic hate crimes hit new high – report10Man poisoned couple and rewrote will – court told [ad_1] It comes after a judge in Delaware annulled his $55.8bn pay package from electric carmaker Tesla. Continue reading