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Musk has professed his desire to make X similar to China’s WeChat, a super-app owned by Tencent Holdings used for everything from payments and booking event tickets to messaging. But he’s been vague about how it will fit in with his sprawling business empire
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“It is understood in the corporate world that incorporating in Nevada is what you do if you want to have fewer fiduciary obligations,” said Ann Lipton, associate dean at Tulane University’s law school. “It’s just harder to sue officers and directors of Nevada companies for breach of fiduciary obligations if you’re an investor.” Twitter was previously incorporated in Delaware, and Musk’s battle over acquiring the company took place in its chancery court.
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