Delaware braces for change after attacks from Elon Musk and others

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The story "Delaware braces for change after attacks from Elon Musk and others" was covered 13 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 13h ago

Delaware braces for change after attacks from Elon Musk and others - Financial Times

Quick Summary:

The worry for Delaware, where incorporation fees generate billions in revenue, is that several others were similarly lining up a so-called “D-exit”.

Tesla and other Musk businesses as well as a handful of other prominent companies such as Dropbox have reincorporated in Texas or Nevada, states that themselves are actively marketing their pro-billionaire bona fides.

A 2019 economic impact report from the University of Delaware said that Wilmington, despite having fewer than 75,000 residents, had a branch office for 19 of the 100 largest US law firms.