Elon Musk presses Tesla shareholders to vote to move the company’s registration to Texas. This state is known for the absence of corporate and individual income taxes.
The announcement of the upcoming vote on the transfer of the company’s registration comes immediately after a Delaware court ruled against Musk, depriving him of the right to a huge financial bonus from Tesla’s activities. Tesla ended 2023 with lower financial performance, which has now caused its share price to fall and turned away potential investors.
That’s why Musk’s public insult to the Delaware court and the transfer of registration to Texas is hiding behind his attempt to maintain Tesla’s shaky position as a global electric vehicle manufacturer.
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