Musk said, "SpaceX has moved from Delaware to Texas!" He further advised, "If your company is still registered in Delaware, I recommend moving to another state as soon as possible," according to a report by The Guardian, a British newspaper.

This decision comes after a Delaware judge ruled last month in favor of Tesla investors who filed a lawsuit challenging Musk's $56 billion compensation package, deeming it excessive. Musk, who is also the CEO of Tesla, stated earlier this month that he would conduct a shareholder vote to move Tesla to Texas.

"The public vote was unmistakably in favor of Texas!" Musk said earlier this month after conducting a poll, where 87 percent of participants voted "yes" to move Tesla to Texas.

In January, a Delaware judge found that Musk's compensation was improperly determined by the board of directors of the electric car manufacturer and nullified the package.

The ruling followed a lawsuit filed five years ago by Richard Tornetta, a Tesla shareholder, who accused Musk of inappropriately influencing the negotiations around the compensation package and alleged that the board acted without independence.

Tesla's agreement with Elon Musk is the largest compensation deal ever for an executive and makes up a significant portion of his fortune, which is one of the largest in the world. During the compensation trial in November 2022, Musk confirmed that the funds would be used to finance interplanetary travel.

Additionally, Elon Musk's brain chip implant company Neuralink changed its location from Delaware to Nevada last week.