March 4, 2024 11:22 am
Elon Musk Speaks Out Against Pay Ruling as Neuralink Moves from Delaware to Nevada

Elon Musk has decided to relocate his brain-chip implant company, Neuralink, from Delaware to Nevada. The move was completed on Thursday with a notice sent to shareholders. According to Bloomberg, the shift was prompted by Musk’s frustration with the legal setbacks he faced in Delaware, including a judge striking down a $55 billion pay package for the Tesla CEO.

On social media platform X (formerly Twitter), Musk had recommended Nevada or Texas as the preferred states for incorporating a company. In addition to moving Neuralink out of Delaware, Musk has also expressed his desire to reincorporate Tesla and move it out of Delaware. He ran a public poll on X asking if Tesla should relocate its incorporation to Texas and later announced that “the public vote is unequivocally in favor of Texas.”

Delaware is known for being the US’s incorporation capital, with over 1.3 million legal entities located there and more than 60% of the nation’s Fortune 500 companies incorporated there. However, Musk’s recent decisions reflect his dissatisfaction 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. The patient is said to be recovering well and the company continues to work towards its research and development goals.

Leave a Reply