Neuralink founder and Tesla CEO Elon Musk notified the biotech company’s shareholders this week he has moved the company’s headquarters from Delaware to Nevada. File photo by Bonnie Cash/UPI | License Photo

Elon Musk, founder of Neuralink Corp., is transferring the company’s operations from Delaware to Nevada after a Delaware court invalidated a $55.8 billion pay package for Tesla. Musk advised against incorporating in Delaware, recommending Nevada or Texas instead, where shareholders have more decision-making power.

In response to the ruling on Tesla’s pay package, Musk plans to propose relocating Tesla from Delaware to Texas, where it’s currently headquartered. The decision to move Neuralink aligns with Musk’s strategic preferences for company incorporation.

The legal dispute arose when a shareholder challenged Musk’s pay package, alleging his control over Tesla’s board and the incomplete disclosure of terms. Despite Musk’s argument that he wasn’t the controlling shareholder, the court voided the package, citing procedural flaws and Musk’s close ties to involved parties.

In light of this setback, Musk proposed a new compensation plan to Tesla’s board, aiming to increase his stake in the company to 25%. Meanwhile, Neuralink, a neurotechnology firm, continues its work on brain-computer interface systems aimed at aiding individuals with paralysis.

Neuralink recently announced human trials for its brain implant technology, signaling progress in its mission to enable communication between the human brain and tech devices through thoughts. The relocation to Nevada underscores Musk’s commitment to advancing Neuralink’s groundbreaking innovations.

As Musk navigates legal challenges and strategic decisions, his ventures remain at the forefront of technological innovation, with potential implications for industries ranging from electric vehicles to neurotechnology.