Yeehaw! Musk Drives Tesla Incorporation To Texas After Shareholder Vote
Portfolio Pulse from Michael Cohen
Tesla Inc. (NASDAQ:TSLA) has officially moved its incorporation from Delaware to Texas following a shareholder vote. This move aligns Tesla’s legal domicile with its physical headquarters in Austin, Texas. The decision follows a Delaware judge's dismissal of Elon Musk's $56 billion compensation package, which shareholders reapproved. Tesla aims to develop revolutionary technologies, including AI, and has achieved significant milestones in 2023.
June 14, 2024 | 2:22 pm
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Tesla has moved its incorporation to Texas, aligning its legal domicile with its Austin headquarters. This follows a Delaware judge's dismissal of Elon Musk's $56 billion compensation package, which shareholders reapproved.
The move to Texas is significant as it aligns Tesla's legal and physical headquarters, potentially reducing regulatory burdens and taxes. The reapproval of Musk's compensation package by shareholders indicates strong investor confidence, likely boosting short-term stock prices.
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