"Delaware is still home to more than two-thirds of Fortune 500 companies and most recent IPOs. Its Supreme Court recently upheld Senate Bill 21, a 2025 overhaul dubbed the 'billionaires' bill' as it limits shareholder suits."
"TransPerfect CEO Phil Shawe understands Delaware courts like few others. He acknowledges Delaware's continued popularity and argues he isn't trying to kill it. 'What we've been trying to do for the past couple years is not tell people to leave Delaware but actually help Delaware reform its courts.'"
"Shawe moved TransPerfect to Nevada, growing revenues from $600 million then to $1.3 billion today. He financed a $2 million anti-Delaware ad campaign during Musk's battles, helping elect Gov. Matt Meyer in 2024."
Delaware continues to be a prominent state for incorporation, housing over two-thirds of Fortune 500 companies. Recent legal changes, including the 'billionaires' bill,' limit shareholder suits. Elon Musk's legal battles in Delaware may be concluding, while TransPerfect CEO Phil Shawe, who moved his company to Nevada, remains committed to reforming Delaware's court system. Shawe has invested in advocacy for changes in court procedures and transparency, emphasizing the need for improvements rather than encouraging companies to leave the state.
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