Billionaire investor Bill Ackman has announced that his investment firm Pershing Square is reincorporating its management company in Nevada. Ackman cited recommendations from top law firms, which suggest Nevada and Texas over Delaware for corporate registrations. This move comes after Elon Musk’s recent relocation of Tesla and SpaceX to Texas and Neuralink to Nevada. The decision follows a court order in Delaware requiring Musk to give up his $56 billion compensation package.
Source: https://www.reuters.com/business/billionaire-ackman-reincorporate-management-company-nevada-2025-02-01