Nevada
Musk moves Neuralink to Nevada after Delaware judge strikes down $55 billion pay package
Delaware judge overturns Elon Musk’s $55.8B Tesla pay deal
A judge in Delaware has nullified Elon Musk’s $55.8 billion pay deal from 2018, calling it an “unfathomable sum” and unfair to shareholders.
Newsworthy
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.
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.
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
Nevada
Billionaire Tax Refugees Flock to Ritzy Nevada Lake Town
Nevada
EDITORIAL: Nevada hurt by California’s anti-fossil fuel crusade
California Gov. Gavin Newsom won’t admit it, but a move by President Donald Trump is especially helpful to drivers in California — and Nevada.
Gasoline prices are pressuring consumers around the country. On Friday, the average U.S. price was $4.55 a gallon. In California, that would be a bargain. The average there was $6.16 a gallon. Nevada’s average was $5.23 a gallon, the result of around 88 percent of the state’s gasoline coming from California.
It might be getting worse — regardless of what happens in Iran.
In recent months, two major California refineries have shut down. That represented a 17 percent reduction in California’s refining capacity. Their closures weren’t caused by the Iran war, but by Gov. Newsom and California’s relentless attacks on fossil fuels.
To make up for the fuel it won’t extract or refine in-state, California depends on imports from foreign countries.
“We are importing 30 percent of our crude oil from the Middle East,” Mike Ariza, a former control board supervisor at the Valero Benicia Refinery, said in an interview. He has been warning the public about California’s potential fuel shortage. “There are not very many ships left on the way that have fuel,” he said last month.
Last week, KCRA-TV in Sacramento reported that “about 2 million barrels of oil are in the process of being unloaded in Long Beach off of the last California-bound tanker that got through the Strait of Hormuz.”
At a California legislative hearing Tuesday, Siva Gunda, the vice chairman of the California Energy Commission, said the state has enough gasoline to accommodate demand for the next six weeks. That’s not a very long time, especially given that it takes weeks or months for oil to travel from the Middle East to California. And that process won’t begin until the Strait of Hormuz reopens.
There is a region, however, with abundant oil available for sale and safe passage — the southeastern United States. Unfortunately, the Jones Act, an antiquated 1920 law, mandates that only U.S.-flagged ships may move cargo between U.S. ports. But only 55 of the more than 7,000 oil tankers worldwide comply with this requirement.
This is where Mr. Trump rode to the rescue. Late last month, the White House announced Mr. Trump would suspend the Jones Act for another 90 days. In March, he originally waived it for 60 days. This will make it easier for California and Nevada to obtain domestic product.
If only Mr. Trump could also suspend the destructive energy policies imposed by Gov. Newsom and California Democrats.
Nevada
Nevada SPCA brings adoptable pet to spotlight for Furever Home Friday
LAS VEGAS (KSNV) — An adoptable pet is in the spotlight for “Furever Home Friday,” with Amy from the Nevada SPCA featured in a segment highlighting an animal available for adoption today.
The Nevada SPCA encouraged viewers looking to add a pet to their family to consider adopting.
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