🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
The big loser in Tesla’s shareholder vote is Delaware
Livemint
·
1y ago
Medial
Electric car giant Tesla's move to reincorporate in Texas goes beyond mere cost savings. By leaving Delaware, where two-thirds of S&P 500 companies are incorporated, Tesla CEO Elon Musk aims to challenge the state's dominance in corporate affairs. Musk's recent defeat in a Delaware court over his pay package valued at $46 billion may have influenced the move. Shareholders approved the plan to reincorporate in Texas, where the company is based and where officials offer lower taxes and a specialized business court system. The move could signal a shift in perception of Delaware's shareholder protections.
View Source
Related News
Musk says SpaceX has moved its incorporation to Texas from Delaware
Reuters
·
1y ago
Medial
Rocket company SpaceX, led by CEO Elon Musk, has shifted its state of incorporation from Delaware to Texas. Musk announced the move on his platform X, formerly known as Twitter, advising companies still incorporated in Delaware to relocate. This development follows Musk's recent proposal to hold a shareholder vote to move Tesla's state of incorporation to Texas. Additionally, his brain-chip implant company, Neuralink, also relocated its incorporation from Delaware to Nevada.
View Source
Elon Musk says SpaceX has moved its incorporation to Texas from Delaware
Economic Times
·
1y ago
Medial
SpaceX, the rocket company founded by Elon Musk, has officially moved its state of incorporation from Delaware to Texas. This follows Elon Musk's announcement earlier this month that he intends to hold a shareholder vote to move Tesla's state of incorporation to Texas as well. The move comes after a Delaware judge invalidated Musk's $56 billion pay package. Additionally, Musk's brain-chip implant company, Neuralink, recently changed its incorporation location from Delaware to Nevada.
View Source
Tesla again seeks shareholder nod for Musk's 2018 pay voided by judge
Livemint
·
1y ago
Medial
Tesla is seeking shareholder approval for CEO Elon Musk's $56 billion pay package, which was rejected by a Delaware judge in January. The compensation is based on Tesla's market value reaching up to $650 billion over the next decade. The judge called the package an "unfathomable sum." Tesla disagrees with the decision and is asking shareholders to vote on the original package. The company also wants approval to change its state of incorporation from Delaware to Texas. Musk's compensation for 2023 was $0.
View Source
Delaware judge rejects Elon Musk's $56 billion Tesla pay - again
Economic Times
·
7m ago
Medial
A Delaware judge has ruled that Tesla CEO Elon Musk is still not eligible for a $56 billion compensation package, despite a shareholder vote in June to reinstate it. The judge's ruling follows her previous decision in January that deemed the pay package excessive and rescinded it. Tesla plans to appeal the ruling, stating that the judge overruled a majority of shareholders. Musk and Tesla can appeal to the Delaware Supreme Court once a final order is entered. The appeal process could take up to a year.
View Source
Tesla tells judge that shareholder vote should reverse Elon Musk's pay ruling
Economic Times
·
1y ago
Medial
Tesla is asking a Delaware judge to uphold the vote by shareholders in favor of Elon Musk's $56 billion pay package and reverse her previous ruling that voided the compensation. The company is also urging the judge to reject a request for a $6 billion legal fee by the lawyers who led the case against Musk's pay package. Tesla argues that the shareholder vote should be taken into consideration, as it demonstrates support for the compensation package. The company plans to file a motion to reverse the previous ruling, indicating confidence in winning the case.
View Source
Tesla's board faces a 'tornado situation' after Elon Musk's $55 billion pay package was struck down, analysts say
Business Insider
·
1y ago
Medial
Tesla's board is facing a challenging time after a judge rejected Elon Musk's $55 billion pay plan. Analysts say the decision is surprising and creates uncertainty for the board, with Wall Street closely watching their next move. Musk plans to hold a shareholder vote to move Tesla's incorporation from Delaware to Texas. The court ruling found that the compensation package was excessive and criticized the board's lack of negotiation. Musk's push for greater control and pursuit of AI initiatives may face resistance from activist investors.
View Source
Explainer: Did Delaware 'lock the doors' to stop companies from leaving, as Musk claims?
Reuters
·
1y ago
Medial
Tesla CEO Elon Musk claims that Delaware is trying to prevent businesses from leaving the state after a court invalidated his $56 billion pay package. Musk has expressed his intention to reincorporate Tesla in Texas and has urged other companies to do the same. While Delaware has made it easier for companies to leave by requiring only a majority shareholder approval, the court is scrutinizing moves that may benefit a controlling shareholder. Musk's claim comes amid a shareholder lawsuit against TripAdvisor's planned reincorporation in Nevada. A ruling in the TripAdvisor case may have implications for Tesla.
View Source
Elon Musk seeks Tesla shareholder vote on moving incorporation to Texas
Economic Times
·
1y ago
Medial
Tesla CEO Elon Musk has announced plans to hold a shareholder vote for transferring the company's state of incorporation from Delaware to Texas. This comes after a judge invalidated Musk's $56 billion pay package and criticized the directors who negotiated it. Musk, who has already moved Tesla's headquarters to Texas, expressed his preference for incorporating in Texas and conducted a poll, with over 87% of votes in favor of the shift. This move aligns with Musk's larger interest in Texas, where several of his other companies also have operations.
View Source
Shifting Tesla incorporation to Texas may not give Musk what he wants
Reuters
·
1y ago
Medial
Elon Musk's plan to relocate Tesla's incorporation to Texas may not bring him the desired freedom due to the lack of history and different rules in Texas business courts. Delaware, the current state of incorporation, is preferred by companies for its long-standing corporate legal system. Texas, on the other hand, has recently created business courts, which will officially open in September. Legal experts suggest that Texas needs time to establish a reliable reputation for handling business disputes before companies consider moving their incorporation. Additionally, Texas law is vaguer compared to Delaware law, which prioritizes shareholder value.
View Source
IIaS recommendation to reject board nominees misleading: Zee
Livemint
·
1y ago
Medial
Zee Entertainment Enterprises has refused the recommendations of proxy advisory firm IiAS to vote against ratifying the appointment of two independent directors. IiAS suggested voting against Venkata Ramana Murthy Pinisetti and Uttam Prakash Agarwal due to conflict of interest and ongoing criminal charges, respectively. However, Zee claims that IiAS' recommendation is misleading. This move comes as Zee seeks shareholder vote on resolutions to ratify the appointments following its failed merger with Sony. Institutional investors usually rely on the recommendations of proxy advisers for voting on such resolutions. Zee needs at least 75% investors to vote in favor for the resolutions to pass.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
/cloudfront-us-east-2.images.arcpublishing.com/reuters/VIXT3WXZQ5LWJJYFZEABQTKIKY.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/FKX6JJULUZONDJQWRPRQF4H2XQ.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/EZM6CSQTMRIKTJLOCUKN5FKZYM.jpg)
