Meta Platforms is exploring options to move its incorporation from Delaware to other states, including Texas. The Wall Street Journal reported that the social media giant has been in talks with Texas officials about potential changes, which predate President Donald Trump’s administration.
A spokesperson for Meta stated that it does not plan on relocating its corporate headquarters from Menlo Park, California. However, no comment was provided when asked about reincorporation.
Meta’s possible relocation to Texas aligns with billionaire Elon Musk’s decision to move Tesla and SpaceX to the state earlier this year. Musk exited Delaware after a court ordered him to give up his $56 billion compensation package.
Texas is seen as an attractive location for businesses due to its more favorable legal environment, particularly in areas such as taxation and corporate governance. This could make it easier for companies like Meta to cut costs and streamline operations.
Source: https://finance.yahoo.com/news/meta-talks-reincorporate-texas-another-192720617.html