Elon Musk acts to move Tesla legal base to Texas after pay package ruling

Elon Musk has announced Tesla will hold a vote on moving the company's legal base to Texas after the state of Delaware threw out his 56bn pay package at the electric vehicle maker. The world's richest person, whose No 1 status is endangered by the Delaware ruling, held a poll on X asking whether Tesla should change the company's state of incorporation from Delaware to Texas. With more than 1m votes cast, the poll recorded 87% in favour of moving. Responding on Thursday, Musk wrote on his X account: "The public vote is unequivocally in favour of Texas! Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas."