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Billionaire investor Bill Ackman announced that his investment firm, Pershing Square, is reincorporating in Nevada, signaling a broader trend of businesses moving away from Delaware.
Ackman confirmed the decision on X, stating, “We are reincorporating our management company in Nevada…” He also noted that top law firms increasingly recommend Nevada and Texas as better alternatives to Delaware.
Pershing Square declined to provide further details beyond Ackman’s statement.
The move follows a similar shift by Elon Musk, who relocated the incorporation of Tesla, SpaceX, and Neuralink after a Delaware court invalidated his $56 billion compensation package. Musk’s decision fueled growing concerns about Delaware’s corporate governance landscape.
Nevada and Texas have become attractive alternatives due to their business-friendly regulations, lower taxes, and reduced legal risks. Many companies are reconsidering their incorporation strategies, prioritizing jurisdictions with more favorable policies.
Ackman’s move reflects a larger corporate migration trend as business leaders seek jurisdictions that offer greater flexibility and protection. As more firms reassess their legal frameworks, Nevada and Texas could see a surge in high-profile incorporations.
