More Musk in Texas

Space pioneer Elon Musk announced that the state of incorporation for his rocket company, SpaceX, has moved from Delaware to Texas.

Musk has already spent some time in the Lone Star State with the Austin-based Tesla Giga Texas electric car manufacturer, and the tunnel producing Boring Company in Bastrop.

“Never incorporate your company in the state of Delaware,” said Musk on a Jan. 30 post on social media platform X ,formerly Twitter, which he is currently CTO of.

The move comes after a lawsuit ruled Musk’s $56 billion Tesla compensation package as excessive, filed by company shareholders five years ago.

“If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” said Musk in another post.

A certificate of conversion came into ef fect last week, reincorporating the legal home of Space Exploration Technologies Corp. to Texas.

The billionaire is also looking to move Tesla’s corporate registration to the state after the public voted 87% in favor of the move on an X-based poll.