South Florida’s 1st News With Andrew Colton

South Florida’s 1st News With Andrew Colton

You likely saw Andrew Colton reporting live from many of the major events that have shaped our world, including the Pentagon on 9/11, the crash of...Full Bio

 

Musk: Tesla Shareholders to Vote on Transferring Incorporation to Texas

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Photo: ODD ANDERSEN / AFP / Getty Images

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.


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