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Elon Musk moves Neuralink from Delaware to Nevada

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Elon Musk moves Neuralink from Delaware to Nevada


Elon Musk’s company Neuralink, which works on brain implants, moved its official business location from Delaware to Nevada. This change comes after Musk faced legal issues in Delaware, including problems related to pay and his purchase of Twitter.

The move comes after Musk’s tweet in January that no company should incorporate in Delaware. “Never incorporate your company in the state of Delaware,” he wrote.

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Musk’s comment was followed by the Delaware Court of Chancery’s Judge Kathaleen McCormick’s remark on the Tesla CEO’s $56-billion salary. Judge McCormick termed called it “an unfathomable sum”.

Neuralink is not the first Elon Musk company that has been reincorporated outside of Delaware. The richest man in the world earlier moved the incorporation of X from Delaware to Nevada when he renamed the company from Twitter. Nevada’s business laws give company leaders stronger protection from lawsuits by investors.

The shift Delaware to Nevada was completed on February 8, according to the office of the Nevada secretary of state and a notice sent to shareholders in the company. 

The notice sent to shareholders, which was reviewed by Bloomberg, informed them that their outstanding shares in the Delaware corporation would now be incorporated into outstanding shares in the Nevada corporation.

Neuralink lawyer Philip Mao declined to comment to Bloomberg.

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Last week, Musk announced on Twitter that his company Neuralink had put a device into a human for the first time. This device is designed to let people with serious injuries use computers just by thinking. Musk believes that, in the future, the device will allow anyone to control phones, computers and many other devices simply by thinking.

Delaware: Incorporation capital of US

Delaware is famous for being the main location for many companies to officially set up. Over 70% of Fortune 500 companies in the US are registered in the state because Delaware’s courts are quick and the judges know a lot about business law. They handle big business deals and disagreements without a jury. Companies from other countries also go to Delaware for solving their business problems.

Here’s your comprehensive 3-minute summary of all the things Finance Minister Nirmala Sitharaman said in her Budget speech: Click to download!

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Published: 10 Feb 2024, 06:47 AM IST



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Delaware

Thomas Jefferson University to run Delaware’s first medical school

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Thomas Jefferson University to run Delaware’s first medical school


Thomas Jefferson University is opening a regional campus of its Sidney Kimmel Medical College in Delaware, an effort that will result in the state’s first medical school.

Jefferson beat out three other bidders to establish the four-year program in partnership with the state. The other bidders were the Philadelphia College of Osteopathic Medicine, the consulting firm PriceWaterhouseCoopers and Ponce Health Sciences University in Puerto Rico, Spotlight Delaware reported.


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The inaugural class of 40 medical students will begin instruction in July 2028. Initially, the campus will be based at the University of Delaware in Newark, with Jefferson faculty providing instruction. A permanent home for the campus is still being finalized, the Inquirer reported.

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The medical students will receive 18 months of preclinical training on campus before receiving clinical training from healthcare providers in Delaware’s southern counties, where the state’s physician shortage is most deeply felt. That shortage is compounded by an aging population, Delaware officials said.

“Jefferson is committed to being part of the solution to Delaware’s physician shortage,” Jefferson CEO Dr. Joseph Cacchione said in a statement. “We are proud to help build a future where every Delawarean has access to the care they deserve. Jefferson is all in.”

The school’s creation is being supported by $157.4 million from the Centers for Medicare and Medicaid Services.

Delaware is one of three states without a Doctor of Medicine or Doctor of Osteopathic Medicine program. Since the late 1960s, Jefferson and the Philadelphia College of Osteopathic Medicine have reserved seats for Delaware students.

“Sidney Kimmel Medical College has trained generations of physicians for more than 200 years, more than any other medical college in the country,” Said Ibrahim, dean of Sidney Kimmel Medical College, said in a statement. “It is a privilege to bring our mission to Delaware’s patients and communities.”

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Jefferson has announced several expansions recently. The university is establishing a full-time doctor of nursing practice-nurse anesthesia program and several online graduate programs at the Lehigh Valley Health Network Center for Healthcare Education in Lehigh County. It also is opening a satellite respiratory therapy lab at Lehigh Valley Hospital-Cedar Crest in Allentown.



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Delaware is getting its first medical school, with classes set to start in 2028

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Delaware is getting its first medical school, with classes set to start in 2028


Delaware officials said medical students will start their classroom instruction at UD and then do their clinical training at offices and health care systems in Kent and Sussex counties, where the shortage of doctors is most acute.

However, ChristianaCare, which has its own partnership with Jefferson, is not participating. The state’s largest health care system was part of Philadelphia College of Osteopathic Medicine’s unsuccessful bid to operate the school. In a joint statement from ChristianaCare and PCOM, the two organizations expressed disappointment with not being part of the consortium of higher education institutions and healthcare organizations.

“The path forward raises genuine questions about whether the school’s goals can be fully realized without ChristianaCare’s meaningful participation in its clinical training mission,” it said. “The success of any four-year medical program depends not just on an academic institution, but on a true and committed partnership with its clinical partners — one built on shared mission, mutual investment and trust developed over time.”

Students in the first class can get their tuition subsidized, covering all of their education costs, in exchange for an agreement to work in rural Delaware for five years.

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Running the medical school is expected to cost Jefferson $78 million over the next five years. The money is from a federal rural health grant through the Rural Health Transformation Program, which congressional Republicans created in the so-called “One Big, Beautiful Bill Act.”

The program will give $50 billion to every state over five years, though exactly the total each will eventually receive is unclear. Half of the money is to be distributed equally to states and the other half is awarded by the Centers for Medicare and Medicaid Services based on a variety of factors.

The state applied for $1 billion late last year to improve health care in Kent and Sussex counties. The Trump administration has so far allocated Delaware $157 million. Delaware is expected to receive at least $500 million over the life of the fund.



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Crash closes U.S. 42 in both directions in Delaware County

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Crash closes U.S. 42 in both directions in Delaware County


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A crash shut down U.S. 42 in Delaware County in both directions June 2.

As of 7 a.m., U.S. 42 was closed from U.S. 23 to Jegs Place near the Delaware Municipal Airport.

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It was not immediately clear whether anyone was injured in the crash or when the roadway would open.

This is a developing story and will be updated

Public Safety and Breaking News Reporter Bailey Gallion can be reached at bagallion@dispatch.com.



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