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Musk moves Neuralink to Nevada after Delaware judge strikes down $55 billion pay package

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Musk moves Neuralink to Nevada after Delaware judge strikes down  billion pay package


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Elon Musk’s company Neuralink has moved its incorporation from the First State to Nevada as he grapples with a recent Delaware judge’s decision that voided his extraordinary pay package from Tesla.

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Musk, who tweeted out, “Never incorporate your company in the state of Delaware,” is taking his own advice by attempting to move his company incorporations over to states like Texas and Nevada.

Neuralink, Musk’s company intended to design brain-implanted computer chips, moved its incorporation to Nevada on Thursday, according to both Nevada and Delaware state records. Last month, Musk announced that the first human patient received a Neuralink implant.

Last week, Musk took to his social media platform X angrily after Delaware judge Kathaleen St. Jude McCormick struck down a $55 billion Tesla pay package. “I recommend incorporating in Nevada or Texas if you prefer shareholders to decide matters,” said Musk on X, formerly known as Twitter.

The Delaware Chancery Court ruled the package was not fair and must be voided.

This is not Musk’s first company incorporated in Nevada, however. X, which was incorporated in Delaware when it was Twitter, and xAI, an artificial intelligence company, are also incorporated in the state.

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Delaware is known nationally due to corporation-favoring laws, where many major companies are incorporated, such as Alphabet, Amazon and more.

ELON MUSK IN DELAWARE: Have the courts really been so unfair to him? Here’s his record

MORE: Tesla CEO’s nearly $56 billion compensation package was unfair, Delaware court rules



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Nevada

IN RESPONSE: Cortez Masto lands bill would keep the proceeds in Nevada

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IN RESPONSE: Cortez Masto lands bill would keep the proceeds in Nevada


A recent Review-Journal letter to the editor mischaracterized Sen. Catherine Cortez Masto’s Southern Nevada Economic Development and Conservation Act, also known as the Clark County Lands bill. As the former executive director of the Nevada Conservation League, I wholeheartedly support this legislation, so I wanted to set the record straight.

Sen. Cortez Masto has been working on this bill for years in partnership with state and local governments, conservation groups like the NCL and local area tribes. It’s true that the Clark County lands bill would open 25,000 acres to help Las Vegas grow responsibly, while setting aside 2 million acres for conservation. It would also help create more affordable housing throughout the valley while ensuring our treasured public spaces can be preserved for generations to come.

What is not correct is that the money from these land sales would go to the federal government’s coffers. In fact, the opposite is true.

The 1998 Southern Nevada Public Lands Management Act is a landmark bill that identified specific public land for future sale and created a special account ensuring all land sale revenues would come back to Nevada. In accordance with that law 5 percent of revenue from land transfers goes to the state of Nevada for general education purposes, 10 percent goes to the Southern Nevada Water Authority for needed water infrastructure and 85 percent supports conservation and environmental mitigation projects in Southern Nevada. This legislation has provided billions to Clark County and will continue to benefit generations of Southern Nevadans. Sen. Cortez Masto’s lands bill builds upon the act’s success.

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So here’s the good news: All of the money generated from land made available for sale under Sen. Cortez Masto’s bill would be sent to the special account created by the 1998 law. Rather than going to an unaccountable federal government, the proceeds would continue to help kids in Vegas get a better education, bolster outdoor recreation and modernize Southern Nevada’s infrastructure.

I know how important it is that money generated from the sale of public land in Nevada stay in the hands of Nevadans, and so does the senator. That’s why she opposed a Republican effort last year to sell off 200,000 acres of land in Clark County and other areas of the country that would have sent those dollars directly to Washington.

Public land management in Nevada should benefit Nevadans. We should protect sacred cultural sites and beloved recreation spaces, responsibly transfer land for affordable housing when needed and ensure our state has the resources it needs to grow sustainably. I will continue working with Sen. Cortez Masto to advocate for legislation, such as the Clark County lands bill, that puts the needs of Nevadans first.

Paul Selberg writes from Las Vegas.

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Las Vegas High beats Coronado in 5A baseball — PHOTOS

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Las Vegas High beats Coronado in 5A baseball — PHOTOS