Tesla CEO Elon Musk vows to hold a shareholder vote to transfer the company’s state of incorporation to Texas from Delaware. where the company is currently incorporated.
This after a court decision that voided the billionaire’s massive $55.8 billion pay package calling it unfair to shareholders.
Musk conducted an unscientific poll on X asking Musk’s followers if the company should transfer Tesla's incorporation to Texas.
The poll received over 1.1 million votes, with 87% voting “Yes.”
As a result, Musk slipped from the top of "The Richest Man in the World" list.
According to Forbes, Musk is currently worth $182.6 billion, making him the world’s second richest man behind LVMH CEO Bernard Arnault who regained the top title after the Delaware ruling.