Billionaire Bill Ackman Reincorporates Management Company in Nevada
Investment firm owner Bill Ackman announced on Saturday that he is reincorporating his management company in Nevada. This move follows a trend of high-profile companies, including Tesla and SpaceX, leaving Delaware for states with more favorable business climates.
Ackman cited advice from top law firms in his decision, noting that Nevada and Texas are increasingly popular destinations for corporate reincorporations.
Last year, Elon Musk relocated Tesla and SpaceX to Texas and Neuralink to Nevada after a Delaware court ordered him to surrender his $56 billion compensation package.
Ackman's reincorporation to Nevada underscores the growing appeal of states with less restrictive business regulations and tax policies. Nevada, in particular, offers favorable corporate tax rates, no personal income tax, and a low cost of living.