Meta Weighs Move from Delaware to Texas in Possible Corporate Reshuffle
Jan 31 (Reuters) – Meta Platforms (META.O) is exploring the possibility of moving its legal incorporation from Delaware to Texas or another state, according to a report by The Wall Street Journal, citing sources familiar with the matter.
While this potential shift would be a significant corporate move, it would not impact the location of Meta’s headquarters, which will remain in Menlo Park, California. A company spokesperson confirmed there are no plans to relocate the headquarters but declined to comment on the reincorporation discussions when contacted by Reuters.
Following in Musk’s Footsteps?
Meta’s potential shift mirrors a similar move by Elon Musk, who reincorporated Tesla (TSLA.O) and SpaceX in Texas after a Delaware court ordered him to relinquish his record-breaking $56 billion compensation package.
Why Texas?
Texas has become an increasingly attractive destination for corporations seeking a more business-friendly environment. With its favorable tax policies and corporate governance laws, the state offers companies a chance to cut costs and streamline operations.
Meta’s discussions with Texas officials reportedly began before the new administration of former President Donald Trump, according to The Wall Street Journal. The move, if finalized, could signal a growing trend of major tech companies reevaluating their corporate structures to optimize regulatory advantages.
