Feb. 2, 2026
Delaware's corporate crown faces a 'DExit' test
Elon Musk's feud with Delaware's corporate court set off a scramble that's reshaping where America's biggest companies choose to call home -- and Delaware is rewriting its own rules to stop the bleeding.
"Never incorporate your company in the state of Delaware," Tesla Inc. CEO Elon Musk tweeted on Jan. 30, 2024, hours after Chancellor Kathaleen McCormick of the state's Court of Chancery rejected the company board's approval of a pay package worth about $56 billion.
"I recommend incorporating in Nevada or Texas if you prefer shareholders to decide matters," he added.
Within months, Musk reincorporated two of his companies, Tesla and SpaceX Corp....
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