https://corp.delaware.gov/stats/ says 68% of Fortune 500 and 79% of recent IPOs incorporated there. Presumably there's a reason for this; what is SpaceX giving up in this move?
Elon recently got burned by the Delaware courts because they ruled his Tesla salary package illegal, so he is moving his companies out of there.
The biggest thing is a separate business court system — so business disputes don’t have to be delayed by criminal or civil cases that may clog the pipeline. Texas is setting one up too. I think this is the famed chancery court.
https://www.marketplace.org/2024/02/02/delaware-incorporated...
I remember the XPlane creator was sued for patent violations and he went to the listed headquarters of the company and it was just an empty office in Texas. There were many companies that listed the same empty office as their headquarters, like, hundreds of companies with the same run-down empty "headquarters".
https://www.businessinsider.com/building-wilmington-delaware...
The Delaware courts recently slapped his gargantuan pay demand down, guess he feels that Texas will let it ride and he’ll get his billions that way.
likely a lot of future money and shares that will be going into Elon's pockets - the Delaware hate came from the courts responding to a shareholder lawsuit about his pay package.