Elon Musk's Epic Battle with Delaware: The Fallout from the Voided Pay Package

Musk Declares War on Delaware

In true Musk fashion he took to X to declare a war on Delaware as the place for companies to be in business. Looks like Delaware might be feeling a little Bender.

SpaceX and Neuralink Jump Ship

Musk wasted no time moving his companies out of Delaware. SpaceX has reincorporated in Texas with Musk urging others to do the same. Even Neuralink saw fit to move to Nevada. Seems like Musk is determined to leave Delaware in the dust like a trail of Fry's forgotten socks.

Delaware Court Shakeup

The Delaware court decision has sent shockwaves through the corporate governance world. More than 60% of the Fortune 500 is incorporated in Delaware making this a truly groundbreaking ruling. This is like Zoidberg getting a medical breakthrough… but for the legal industry.

Musk's Relationship with the Board

"Extensive ties," said the judge about Musk's relationship with board members who were negotiating his pay package. It's like the whole board was Fry and Musk was Bender bending the rules to his advantage. But in the end it looks like Musk might have bent a little too far.

Board Independence in Question

Delaware courts have always been a little loose when it comes to determining board independence. But this ruling might change things. Now they're going to be looking for real independence not just a bunch of Zapp Brannigans saying they're independent.

The Fallout for CEO Pay

Musk's outsized pay package has set a precedent that other CEOs might have taken advantage of. But fear not fellow humans this ruling might put a stop to those demands faster than you can say "bite my shiny metal ass."