Musk Slams Delaware, Hints at Tesla Texas Move After Pay Snub
- Billionaire polls X followers on incorporating Tesla in Texas
- Legal experts say he’s frustrated by state’s legal limitations
Elon Musk
Photographer: Tolga Akmen/EPA/Bloomberg
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Shortly after a Delaware judge voided Elon Musk’s $55 billion Tesla Inc. compensation package, the billionaire took to social media to vent his feelings: “Never incorporate your company in the state of Delaware.”
Musk’s sour sentiments about Delaware should come as no mystery given his costly legal setbacks in the First State. Musk was hit with a ruling Tuesday invalidating his 2018 pay package — the largest in US corporate history — after an investor claimed it was flawed by conflicts of interests and misleading disclosures by the electric-car company.