Elon Musk's plan to pull up stakes from Delaware and reincorporate Tesla in Texas may not give the electric carmaker's CEO the greater freedom he desires given the lack of history and different rules in that state's business courts, legal experts said.
After suffering a bruising loss this week in Delaware's Chancery Court that voided his $56 billion pay package, Musk said on social media site X on Thursday that Tesla would "move immediately to hold a shareholder vote to transfer state of incorporation to Texas."
"Change your state of incorporation out of Delaware before they lock the doors," Musk added later on Thursday.