GOP Governor Greg Abbott Welcomes Elon Musk With Open Arms As Tesla Shareholders Approve Corporation Move To Texas: 'It Was Meant To Be'
Portfolio Pulse from Ananya Gairola
Tesla Inc. (NASDAQ:TSLA) has officially moved its corporate headquarters to Texas following shareholder approval. Texas Governor Greg Abbott welcomed the move, and Elon Musk expressed his gratitude. The relocation aligns Tesla's legal domicile with its physical headquarters in Austin, Texas. Despite a Delaware judge dismissing Musk's $56 billion compensation package, shareholders reapproved the pay plan. Tesla shares ended Friday down 2.44% at $178.01.
June 15, 2024 | 3:19 am
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Tesla's shareholders have approved the company's move to Texas, aligning its legal domicile with its physical headquarters in Austin. Despite a Delaware judge dismissing Musk's $56 billion compensation package, shareholders reapproved the pay plan. Tesla shares ended Friday down 2.44%.
The move to Texas is significant for Tesla's corporate structure and aligns with its physical headquarters. However, the immediate market reaction was negative, with shares ending down 2.44%. The reapproval of Musk's compensation package may have mixed investor sentiment.
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