Delaware
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.
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.
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!
Download The Mint News App to get Daily Market Updates & Live Business News.
More
Less
Published: 10 Feb 2024, 06:47 AM IST
DELAWARE COUNTY, Ohio — People in Delaware County said it feels like new housing developments are popping up on every corner.
WSYX
“What haven’t you noticed, right? The whole area just exploded,” said Scott Shonebarger.
Scott Sanders, the executive director of the Regional Planning Commission, said companies like Intel and other industries are a main driver for thousands of people moving to Delaware County.
With the big boom comes an urgent need for more housing.
John Wicks is the developer at Real Property Design and Development.
He has spent over a decade building homes for families in Delaware County.
Wicks said the Olentangy School District is one of the hottest spots for new homes.
“I started with one high school up until the 90s, then now we’re up to four up to five different high schools so it’s just a big draw,” said Wicks. “It’s a beautiful community.”
The district has grown into the fourth largest in Ohio with a new elementary school opening next year, and a fifth high school in 2028.
Wicks said the growth has presented some challenges over the years like labor shortage and some opposition.
“It’s become a big issue for a lot of people that live in and around these areas. They tend to oppose new growth and new development, so restrictions have gotten a little bit harder. Costs have obviously gone up over the last 20 years,” said Wicks.
The planning commission says between 275,000 and 350,000 people could call Delaware County home by 2040.
That’s up from 214,000 in 2020.
Scott Shonebarger said he supports growth but wonders when is enough.
“I mean to a certain extent I think you know at some point right you have to have some sort of boundaries I think, getting into the fact that now you have five high schools,” said Shonebarger. “What’s the limit?”
Police in Wilmington, Delaware, shot and killed a 19-year-old man Wednesday night.
The incident happened in a residential area near 24th and Jessup streets just after 11 p.m., Wilmington police said in a news release. The person who was shot has not been publicly identified.
Officers were monitoring a large crowd gathered outside when they saw a man exit a home with a handgun and point it toward the crowd, police say.
When officers approached the man, he ran away and a foot pursuit began, police say.
At some point in the chase, an officer fired their weapon and hit the 19-year-old. The man was taken to a local hospital, where he later died.
Police say they recovered a loaded gun from the man and that the officer was not injured.
Video filmed at the scene shows a crowd of residents gathered outside after the shooting.
Police are asking anyone with more information to come forward. The shooting is under investigation by the Delaware Department of Justice and Wilmington police.
Delaware Supreme Court Justice Karen L. Valihura announced Wednesday that she will lead a new corporate law institute at the Wilmington University Farnan School of Law.
She will step down from the bench of Delaware’s highest court in late July, after choosing not to seek reappointment at the end of her 12-year term. She revealed her plans for the next phase of her legal career in a special session of the court in Wilmington.
As well as joining the Wilmington University law school faculty, Valihura will be the founding director of the school’s new Corporate Law, Governance and Practice Institute. …
-
Detroit, MI47 seconds agoScene active as police shoot, kill man on Detroit’s west side
-
San Francisco, CA11 minutes agoCivil grand jury report warns of wildfire risk at SF’s Glen Canyon Park
-
Dallas, TX16 minutes agoIvory Coast advances at World Cup, how to buy Ivory Coast tickets
-
Miami, FL23 minutes agoMen used fake credentials to enter Brazil vs. Scotland match at Miami Stadium, deputies say
-
Boston, MA26 minutes ago3 arrested after trying to break into downtown building, Boston police say – The Boston Globe
-
Denver, CO38 minutes agoRTD to bring back BroncosRide bus service after 5-year suspension
-
Seattle, WA41 minutes agoFOLLOWUP: Sound Transit Board finalizes $400+ million spending installment for West Seattle light rail
-
San Diego, CA46 minutes agoStreetsblog San Diego Launches July 27 — Help Us Build the Future of Transportation Journalism – Streetsblog California
