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Musk says Tesla will hold shareholder vote ‘immediately’ to move company’s incorporation to Texas (www.forbes.com.au)

submitted 5 months ago by [email protected] to c/[email protected]

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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.

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[-] [email protected] 105 points 5 months ago* (last edited 5 months ago)

To the state that can't even keep their power grid up during the winter?... Or summer?

[-] Voroxpete 76 points 5 months ago

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.

[-] [email protected] 20 points 5 months ago

Delaware is considered as a tax haven.

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[-] [email protected] 19 points 5 months ago* (last edited 5 months ago)

Good luck finding talent to move to texas

[-] [email protected] 22 points 5 months ago

Good luck finding talent who wants to work for Elon Musk

[-] [email protected] 6 points 5 months ago

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.

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[-] [email protected] 6 points 5 months ago

Fair, but this is talking about where the company is incorporated, which isn't the same as where they're physically operating from.

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[-] [email protected] 47 points 5 months ago

Man child

[-] [email protected] 32 points 5 months ago

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.

[-] [email protected] 31 points 5 months ago

As a shareholder I can’t wait to hit the “no” checkbox.

[-] [email protected] 18 points 5 months ago

He's gonna run for President of the Republic of Texas after the Civil War II, isn't he?

[-] [email protected] 15 points 5 months ago

Elon Musk: Business Mastermind

[-] [email protected] 13 points 5 months ago

Switching states again?

[-] [email protected] 8 points 5 months ago

My paltry few shares will vote No.

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this post was submitted on 02 Feb 2024

121 points (91.2% liked)

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