In recent news, Elon Musk has made the decision to relocate his brain-chip implant company, Neuralink, from Delaware to Nevada. This move was completed on Thursday with a notice sent to shareholders. According to Bloomberg, Musk expressed his frustration with the legal setbacks in Delaware that included a judge striking down a $55 billion pay package for the Tesla CEO.
On social media platform X (formerly Twitter), Musk recommended Nevada or Texas as the preferred states for incorporating a company. In addition to moving Neuralink, Musk has also expressed his desire to reincorporate Tesla, stating that “the public vote is unequivocally in favor of Texas.”
Despite Delaware’s reputation as the US’s incorporation capital and its advantages for large businesses, Musk’s recent decisions reflect his frustration with the legal climate in the state. With more than 60% of the nation’s Fortune 500 companies incorporated there, Delaware is home to 1.3 million legal entities.
Neuralink conducted its first human brain implant in January and aims to find a way for humans to control a computer keyboard or cursor with their thoughts. With the patient said to be recovering well, the company continues to forge ahead with its research and development goals.