Elon Musk slams Delaware, hints at Tesla move to Texas after pay snub

Musk’s sour sentiments about Delaware should come as no mystery given his costly legal setbacks in the First State. — AFP

Shortly after a Delaware judge voided Elon Musk’s US$55bil (RM260.20bil) Tesla Inc compensation package, the billionaire took to social media to vent his feelings: “Never incorporate your company in the state of Delaware.”

Musk’s sour sentiments about Delaware should come as no mystery given his costly legal setbacks in the First State. Musk was hit with a ruling Tuesday invalidating his 2018 pay package – the largest in US corporate history – after an investor claimed it was flawed by conflicts of interests and misleading disclosures by the electric-car company.