According to the Wall Street Journal, Meta Platforms is currently discussing the possibility of relocating its incorporation from Delaware to Texas or other states. The social media company has reportedly engaged in talks with Texas officials regarding this potential change, preceding the new administration of President Donald Trump. However, it is emphasized that this paperwork adjustment would not involve moving its corporate headquarters.
A Meta spokesperson clarified that the company has no intention of moving its corporate headquarters from Menlo Park, California. Furthermore, while declining to elaborate on the specifics of reincorporation, the spokesperson did confirm this stance when contacted by Reuters.
The potential relocation of Meta to Texas mirrors Elon Musk's decision to relocate Tesla and SpaceX to the Lone Star state. Musk's move away from Delaware followed a court order in the state related to his lucrative compensation package amounting to $56 billion.
Texas is viewed favorably by certain businesses due to its perceived advantageous legal and regulatory framework, particularly in the realms of taxation and corporate governance. These factors can be appealing to companies seeking to reduce expenses and streamline their operations.