Elon Musk Moves Neuralink to Nevada After Losing $55.8B Tesla Pay Package

Neuralink Corp., the neurotechnology company founded by Elon Musk, is moving its operations from Delaware to Nevada following a recent ruling against Musk’s $55.8 billion Tesla pay package. Musk informed Neuralink shareholders about the relocation, which has been finalized by the Nevada Secretary of State. In a post, Musk advised against incorporating companies in Delaware, suggesting Nevada or Texas as better alternatives. Additionally, Musk plans to have Tesla shareholders vote on his proposal to move the electric vehicle manufacturer from Delaware to Texas. The ruling against the pay package came after a shareholder challenged its terms, claiming that Musk had influenced the board and provided incomplete disclosures. Delaware Chancellor Kathleen St. Jude McCormick voided the compensation plan, stating that its creation process was flawed. Musk has since requested Tesla’s board to develop a new compensation package that would grant him a 25% stake in the company. Neuralink is focused on creating a brain-computer interface that enables communication between the human brain and tech devices. By using only a person’s thoughts, this technology aims to enhance the lives of individuals with paralysis. The company recently announced the start of human trials for its first brain implant.