Elon Musk has announced that he will be relocating his brain-chip implant company, Neuralink, from Delaware to Nevada. The move was completed on Thursday with a notice sent to shareholders. According to Bloomberg, this decision comes after Musk expressed his frustration with the legal setbacks in Delaware, including a judge striking down a $55 billion pay package for the Tesla CEO.
Musk had previously recommended Texas or Nevada as the preferred states for incorporating a company on his social media platform, X (formerly Twitter). In addition to moving Neuralink to Nevada, Musk has also expressed his desire to reincorporate Tesla, moving it out of Delaware. He ran a public poll on X asking if Tesla should move its incorporation to Texas and later stated that “the public vote is unequivocally in favor of Texas.”
Despite the state’s advantages for large businesses, Musk’s recent decisions reflect his frustration with the legal climate in Delaware. As of now, Delaware is home to 1.3 million legal entities and has the reputation of being the US’s incorporation capital, with more than 60% of the nation’s Fortune 500 companies incorporated there.
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.