Why Elon Musk Moved SpaceX’s Incorporation from Delaware to Texas

The tiny state of Delaware has long been the most popular home for US corporations: almost 70% of Fortune 500 companies are incorporated there. A number of business titans are challenging the state’s power over companies, foremost among them Elon Musk. Last year, he moved the incorporation of two of the six companies he controls — X Corp. and the Boring Company — from Delaware to Nevada, where his xAI was situated to start with. Now, he’s moved two more out of Delaware, taking the incorporation of Neuralink Corp. to Nevada and that of SpaceX to Texas, where he also hopes to move Tesla Inc.