Delaware’s newly inaugurated Governor Matt Meyer is taking steps to address corporate law issues, following several high-profile companies’ departure from the state. Tesla and SpaceX CEO Elon Musk led the charge after a court rejected his $55 billion pay package, while billionaire Bill Ackman plans to reincorporate Pershing Square Capital Management in Nevada or Texas.
Meyer believes Delaware remains the top destination for incorporation due to its legal expertise but acknowledges that changes are needed. “We need to take challenges to our corporate laws seriously,” he said. To address concerns, Meyer’s office is meeting with leading corporate legal brass and state government leaders to chart a new path forward.
The state has over 2.2 million registered entities, including two-thirds of Fortune 500 companies. However, Governor Meyer recognizes the need for improvement in protecting shareholder rights and other key areas. He vows to work towards earning back corporations’ trust, which have already left or are considering leaving Delaware.
Source: https://www.businessinsider.com/delaware-governor-matt-meyer-corporate-law-elon-musk-bill-ackman-2025-2