DIRS.INFO The most relevant business & tech news

Elon Musk continues his flight from “the First State”Another Elon Musk-led company has moved its home base from Delaware as the tech billionaire continues to criticize the state after a judge there voided his nearly $56 billion payday at Tesla. Moving the incorporation of SpaceX, Musk’s privately held rocket giant, to Texas will help bolster the Lone Star State’s standing with business. Musk is making good on his threat to pull out of the state. It comes shortly after he relocated the incorporation of Neuralink, his brain implant company, to Nevada. Musk endorsed that view, writing that having a Delaware incorporation is a “guarantee of spurious litigation.”

Persons: Elon Musk, Elon, Musk’s, Tesla, ” Organizations: Tesla, SpaceX, Lone Star Locations: Delaware, Texas, Neuralink, Nevada, America

☆ Why Elon Musk's battle with Delaware is about more than a $55 billion pay package
▼ + stars: | 2024-01-31 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

Musk's Tesla pay was structured without a salary to involve 12 stock option awards that would only be given once performance goals for each of them were met. Though Musk can appeal the decision, there are signs that this battle is about more than just the massive pay package that has propelled him to a $205 billion fortune. The carmaker is currently worth $600 billion, up from roughly $50 billion in 2018, when Musk received his pay plan. So it's reasonable to take Musk at face value when he says his Tesla pay, as McCormick put it, is a "means of bankrolling that mission." Closer to home, Musk's legal battle could trigger a rethink of where Corporate America goes to do business.

Persons: —, Elon, Thomas Jefferson, Tesla, Richard Tornetta —, Musk, Judge Kathaleen McCormick, Musk's Tesla, Chandan Khanna, …, Judge McCormick, McCormick, DealBook, that's Organizations: Service, The, The Diamond State, Business, SpaceX, Toyota, Delaware Inc, Corporate America Locations: Delaware, The Diamond, Tesla, Mars, America's, America, Nevada, Texas

"It's just a very high level of uncertainty," said Amit, who is registering his artificial intelligence-based cloud security firm Gomboc in Delaware. Michael Fertik, founder of Heroic Ventures, a Silicon Valley-based early-stage venture investor, has invested in more than a dozen Israeli startups since 2015. He insists on Delaware incorporation and existing Israeli startups seeking a new funding round from him must switch. But the Israeli government's judicial overhaul is casting a shadow for some. Adam Fisher, a partner at Bessemer Venture Partners and long-time investor in Israeli startups, has been happy to invest in Israeli-based tech firms over the past decade.

Persons: Amir Cohen, Benjamin, Ian Amit, Amit, Ami Applebaum, Yair Geva, Herzog, Fox, Neeman, Ronen Feldman, Michael Fertik, Adam Fisher, Fisher, Ayal Shenhav, Steven Scheer, Emily Rose, Mark Potter Organizations: U.S Embassy, REUTERS, Entrepreneurs, Reuters, Israel Innovation Authority, Ministry of Innovation, Science, Technology, Startup Nation, Heroic Ventures, Delaware C Corp, Bessemer Venture Partners, Gross, Co, TechAviv, Partners, Thomson Locations: Tel Aviv, Israel, JERUSALEM, United States, Delaware

☆ Bidens Paid About $170,000 in Taxes for 2022
▼ + stars: | 2023-04-19 | by ( Ken Thomas | ) www.wsj.com time to read: 1 min

President Biden has continued to seek changes to the nation’s tax policies. Photo: Drew Angerer/Getty ImagesWASHINGTON—President Biden and first lady Jill Biden made $579,514 in adjusted gross income in 2022 during his second year as president, according to their tax returns released by the White House Tuesday. The Bidens filed their tax return jointly and paid $137,658 in federal income tax, with an effective federal income-tax rate of 23.8%. They also paid $29,023 in Delaware income tax, and Dr. Biden paid $3,139 in Virginia income tax.

☆ EXCLUSIVE: Jared Kushner helped create a Trump campaign shell company that secretly paid the president's family members and spent $617 million in reelection cash, a source tells Insider
▼ + stars: | 2020-12-18 | by ( Tom Lobianco | Dave Levinthal | ) www.businessinsider.com time to read: +11 min

American Made Media Consultants became the source of consternation for President Donald Trump's campaign staff, who were kept in the dark about its operations. Despite its $617 million spending through AMMC, the Trump campaign publicly disclosed little information about the company, including how it used the money. Insider independently verified details of this person's account with other people close to the Trump campaign. The shell company — incorporated as American Made Media Consultants Corp. and American Made Media Consultants LLC — allowed Trump's campaign to skirt federally mandated disclosures. "Nothing was done without Jared's approval," the former Trump campaign advisor said.

Search resuls for: "Delaware Inc"

5 mentions found