Matt Levine’s Money Stuff: What If Tesla Can’t Leave? (Correct)

Hotel Delaware

Oh man, I want to tell you about the funniest Money Stuff item of, like, summer 2024. Here’s what it will be:

1. Elon Musk is going to ask Tesla Inc.’s board of directors to change its state of incorporation from Delaware, which just invalidated Musk’s $55 billion pay package, to Texas, which loves Musk and is begging him to move and would probably let him pay himself whatever he wants.

• 2. Tesla’s board is going to be like “sure yes of course, whatever you want.”

• 3. Then Tesla will ask shareholders to vote to approve the ...