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As Elon Musk loses his Tesla pay package, Neuralink moves from Delaware to Nevada

Elon Musk wasn’t kidding when he said, “Never incorporate your company in the Delaware State.”

Now, the promises are being pretended after a judge overturned the $55 billion dollar pay package Musk was supposed to receive as CEO of Tesla.

The judge’s decision disappointed Musk that one of his businesses, Neuralink Corp., is now moving to Nevada. This is particularly evident from the state’s Secretary of State records. And the corporation’s name was reserved as early as January 22, 2024 (
E37711792024-0), 9 days before Musk lost his pay package. And so, on February 8, 2024, Neuralink Corp was officially incorporated in Nevada (NV Business ID: NV20243028).

According to Bloomberg, shareholders were notified that their outstanding shares in the Delaware corporation would now be incorporated into outstanding shares in the Nevada corporation.

This is not Musk’s first business to be incorporated in Nevada, before that X Corp. was incorporated there, as Twitter was renamed X.

While Delaware is known for its excellent corporate laws, and more than half of the largest U.S. corporations are incorporated in that state, Nevada offers the best environment to protect executives from potential investor risk.