The rocket company SpaceX has switched where it is incorporated to Texas from Delaware, its founder, Elon Musk, said on Wednesday, weeks after a Delaware judge voided his pay package at Tesla, another company he owns.
The Texas secretary of state, Jane Nelson, issued a certificate confirming that the state has accepted the company’s filing to relocate its incorporation on Wednesday, according to a copy of the document that was posted on her office’s website. A spokeswoman for Ms. Nelson’s office did not immediately respond to a request for comment.
Mr. Musk, a billionaire who lives in Texas and also runs the carmaker Tesla, has had issues with Delaware. Last month, a judge there voided the pay package that had helped to make him the world’s wealthiest person.
That case was brought by a group of Tesla shareholders who were challenging a stock options package that allowed Mr. Musk to acquire about 304 million Tesla shares at a preset price — $23.34 a share — if the company achieved certain goals. The judge ultimately ruled that Mr. Musk had effectively overseen his own compensation plan, valued at more than $50 billion last month, with the help of compliant board members.
“If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” Mr. Musk wrote Wednesday on X, the social media platform that he owns, in a post announcing the SpaceX news.
Mr. Musk announced the move hours before the company launched a robotic lander that will attempt to carry NASA payloads to the moon. The launch time had been postponed to early Thursday morning from Wednesday because of a technical issue.
