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Meta, Elon Musk, and Delaware’s rush to rework corporate law.
Elon Musk has publicly railed against Delaware’s corporate law as its judges ruled against his wishes, moving the incorporation of Tesla and other companies out of state. Now, CNBC says a January WSJ report that Meta was considering moving its incorporation spurred immediate action from the governor on a new bill, SB 21, that might make its laws friendlier to folks like Musk and Mark Zuckerberg.
After skipping a typical review by the state’s bar association, it’s passed the state Senate and could be voted on by the state House as soon as Thursday.
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