Newsmax: The nation’s largest shopping mall owner said it’s leaving Delaware as its state of incorporation, citing concerns of increasingly woke behavior by courts.
Simon Property Group, an S&P 500 company valued at $60 billion, last week said it could no longer rely on Delaware courts, which now allow for “meritless litigation” and “judicial interpretation without a clear statutory bias,” Law.com reported.
The move mirrors Elon Musk’s decision last year to move multiple companies, including Tesla and SpaceX, out of Delaware.
Delaware was once the gold standard for its corporate legal system.
But major corporations have joined Musk in his warnings that the blue state is simply too woke for any company to domicile there.
Recent press reports indicate corporate giants like Meta, parent of Facebook, and Walmart are preparing to move their domicile from Delaware. more
Where are they usually going TO? NV?
Uncle Al, maybe South Dakota. Sioux Falls has grown about 300 percent since they changed their banking laws to attract corporations. And no personal income tax in SD.
From the whole Harry and Meghan Soap Opera, I have learned that charities love to be incorporated in Delaware (such as The Clinton Foundation as well) as they only have to contribute 5% of the donations which they receive to charity. They can keep the other 95% for expenses and salaries. A very sweet deal indeed!