Elon Musk criticizes Delaware’s corporate laws after a judge rejected his Tesla pay package. Delaware Gov. Matt Meyer responds during an appearance on “The Hill.”
Elon Musk went to war with Delaware over its corporate laws after a judge shot down his massive Tesla pay package, moving his companies out west. Now the First State is responding with a legislative overhaul to keep other moguls from following him.
After a bruising battle with Elon Musk, the state where most of the S&P 500 is incorporated, is making itself more pliable for boards and big shareholders.
More CEOs fed up with Delaware and its powerful Chancery Court are going the way of Elon Musk, reincorporating their companies elsewhere and publicly airing their frustrations.
In addition to going after a number of federal agencies, the State of Delaware remains in Elon Musk's cross hairs.
Elon Musk went to war with Delaware over its corporate laws after a judge shot down his massive Tesla pay package, moving his companies out west. Now the First State is responding with a legislative overhaul to keep other moguls from following him.
A law firm representing Elon Musk and Tesla helped draft a bill some experts say could, if passed, possibly restore Musk's lost multibillion-dollar compensation package.
Elon Musk recently attempted an unsolicited takeover of OpenAI that was rejected. Now the creator of ChatGPT wants to make sure that any future coups from the world's richest man won't be successful.
His clientele underscores how, for more than a century, the First State has been the mecca of U.S. corporate law—roughly two-thirds of the Fortune 500 is incorporated in Delaware—which generates billions in revenue for the state and helps sustain local businesses like Wright & Simon,