Musk says Tesla will hold shareholder vote ‘immediately’ to move company’s incorporation to Texas::Billionaire Elon Musk justified the decision on the results of an unscientific poll run on his X account a day earlier.
To the state that can’t even keep their power grid up during the winter?.. Or summer?
This has nothing to do with physical locality.
It’s because he lost a shareholder lawsuit over his exorbitant compensation package, and he’s being a whiny salty baby about it.
To be clear, Tesla is currently incorporated in Delaware, which is already well known for being extremely hostile to shareholder lawsuits like this. He picked the most favourable ground possible and still lost. He’s not going to get better treatment from Texas.
He’s just throwing his toys out of the pram because he’s mad, and forcing the entirety of Tesla to join in his tantrum.
Delaware is considered as a tax haven.
I think it’s because Delaware has really lax laws on incorporating and a special court just for corporate stuff so legal issues can get sorted quickly.
edit
Like in Delaware you can incorporate for like $500 a year and not even need to provide the names of the officers or ceo of the corporation.
Still a tax heaven.
Can you explain what makes it a tax haven?
Good luck finding talent to move to texas
Good luck finding talent who wants to work for Elon Musk
It doesn’t matter where you’re incorporated. Previously, he was incorporated in Delaware, but had an HQ in California. Actually, most US corporations are incorporated in Delaware because the small state with not much else going for it has very very business friendly laws.
Texas has Nasa and Texas instruments (they do more than make calculators). So its not impossible to find.
Texas Instruments is incorporated in Delaware.
Would you leave either of those to sleep on the floor of a car factory?
Fair, but this is talking about where the company is incorporated, which isn’t the same as where they’re physically operating from.
They have their headquarters in Texas though
Man child
Will someone please put him in a little submarine already? He’s annoying af. The bullies that beat him up at school shouldn’t have pulled their punches, and that’s not something I’d say lightly.
As a shareholder I can’t wait to hit the “no” checkbox.
He’s gonna run for President of the Republic of Texas after the Civil War II, isn’t he?
Because they looooove immigrants…
He’s white, so it doesn’t matter.
but he’s “African-american!"
Elon Musk: Business Mastermind
;P
Switching states again?
My paltry few shares will vote No.
Do you have voting shares?
Si. I’m a buy-and-hold investor and so far, so good. I wish I had bought more. I’m up about 700% (it was much more at the beginning of the year). I’ve informed my decision on this as moving stakes to TX may open Tesla to significant legal liability and it’s being done solely in order to overpay the CEO, who is prone to making bad decisions. Overall I’m less than a drop in the bucket but I’m against it.
Wow, look at that full screen ad behind the text… Lols.
Hey Tesla - last chance, man. Shiv this guy or start packing up.
Tesla is a meme stock that would sink if he was gone. The problem is it’s also what gives him his billions.
