• Thu. Feb 29th, 2024

Elon Musk Moves Neuralink and Tesla Out of Delaware: A Closer Look at the Reasons Behind the Relocation Decision

ByEditor

Feb 12, 2024
Elon Musk Speaks Out Against Pay Ruling as Neuralink Moves from Delaware to Nevada

Elon Musk has recently announced the relocation of his brain-chip implant company, Neuralink, from Delaware to Nevada. The move was completed on Thursday with a notice sent to shareholders. According to Bloomberg, Musk expressed his frustration with the legal setbacks he faced in Delaware, including a judge striking down a $55 billion pay package for the Tesla CEO.

In addition to moving Neuralink to Nevada, Musk has also expressed his desire to reincorporate Tesla, moving it out of Delaware. Musk ran a public poll on X (formerly Twitter), asking if Tesla should move its incorporation to Texas and later stated that “the public vote is unequivocally in favor of Texas.”

Delaware is currently home to 1.3 million legal entities and is known as the US’s incorporation capital, with more than 60% of the nation’s Fortune 500 companies incorporated there. However, Musk’s recent decisions reflect his frustration with the legal climate in Delaware.

Neuralink conducted its first human brain implant in January and aims to find a way for humans to control a computer keyboard or cursor with their thoughts. With the patient said to be recovering well, the company continues to forge ahead with its research and development goals.

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