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Elon Musk to make another break with Delaware by moving SpaceX to Texas

Financial Times, February 14, 2024

Elon Musk to make another break with Delaware by moving SpaceX to Texas

  • Here’s what happened: Not long after moving Tesla’s business incorporation to the Lone Star State, Elon Musk announced the move of SpaceX’s incorporation from Delaware to Texas. 
    • SpaceX, which already operates out of Bastrop, McGregor and South Texas, is one of the world’s most valuable private companies.

    • Musk posted this image on X after announcing SpaceX would move its incorporation to Texas.
  • Zoom in: Texas is home to 54 Fortune 500 company headquarters—we are often billed as the “headquarters of headquarters.
  • #Txlege wrap-up: Thanks to Governor Abbott and the Texas Legislature, last year Texas became the 31st state to create a specialized business court to handle complex business litigation by highly qualified and experienced judges
  • Looking forward: The business court will come online in the state’s major metropolitan areas this September. Find out more in the TLR Advocate 
  • TLR Thoughts: With our combination of low taxes, smart regulations, and a fair and efficient legal system, Texas is a magnet for job creators of all sizes. The new specialized business court will build a cohesive body of business case law that will become another tool in recruiting employers and job creators to the state.

Read the full article here.

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