• Fri. Mar 1st, 2024

Elon Musk’s Frustrations with Delaware Lead to Replacement of Neuralink and Potential Relocation of Tesla

ByEditor

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

Elon Musk has announced that his brain-chip implant company, Neuralink, will be moving out of Delaware and relocating to Nevada. According to Bloomberg, the move was completed on Thursday with a notice sent to shareholders. Musk expressed his frustration with the legal setbacks in Delaware, which included a judge striking down a $55 billion pay package for the Tesla CEO. On social media platform, X (formerly Twitter), Musk recommended Nevada or Texas as the preferred states for incorporating a company.

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, asking if Tesla should move its incorporation to Texas and later stated that “the public vote is unequivocally in favor of Texas.”

Delaware is home to 1.3 million legal entities and has long been known as the US’s incorporation capital, with more than 60% of the nation’s Fortune 500 companies incorporated there. Despite its advantages for large businesses, 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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