Meta Platforms, Inc., the parent company of Facebook, is reportedly considering reincorporating its legal headquarters from the state of Delaware to another location, according to multiple outlets. The move comes less than a year after Tesla and SpaceX CEO Elon Musk relocated his companies’ incorporation from Delaware to Texas.
Delaware has built a reputation as a favorable tax haven for corporations due to its lax incorporation requirements and low corporate income tax rates. However, Meta is exploring alternatives, including moving to Texas or another state, according to reports by Bloomberg and The Wall Street Journal.
The social media company has discussed potential relocation plans with Texas officials, but Meta has denied any plans to move its corporate headquarters, which is located about 30 miles south of San Francisco, California.
According to CNBC, over 60% of Fortune 500 companies were incorporated in Delaware as of 2023, including Alphabet, Amazon, and Comcast.
Mark Zuckerberg’s net worth is estimated at $237.8 billion, making him the third-wealthiest person in the world, behind Jeff Bezos and Elon Musk. The reason for Meta’s potential reincorporation remains unclear.
Source: https://www.forbes.com/sites/antoniopequenoiv/2025/01/31/meta-eyeing-possible-reincorporation-in-texas-report-says