Elon Musk says Tesla shareholders to vote ‘immediately’ on moving company to Texas

Elon Musk said Tesla shareholders will hold a vote “immediately” on whether to change its state of incorporation to Texas — shortly after a Delaware judge shockingly decided to tear up his $56 billion pay package.

The mercurial tech billionaire made the announcement after conducting an informal poll on X about a potential relocation.

An overwhelming 87.1% of the more than 1.1 million users who responded to the poll as of Thursday agreed that Tesla should move to Texas, while just 12.9% disagreed.

“The public vote is unequivocally in favor of Texas!” Musk wrote on X. “Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas.”

Musk didn’t elaborate on the plans.

Tesla didn’t immediately respond to a request for comment.