Texas
Meta Eyeing Possible Reincorporation In Texas, Report Says
Topline
Mark Zuckerberg’s Meta is considering a reincorporation from Delaware to a new state, according to multiple outlets, mulling the move less than a year after SpaceX and Tesla CEO Elon Musk took his companies’ incorporation out of Delaware and moved them to Texas.
Meta’s corporate headquarters in California would not be impacted by the move. Photo by Jonathan … [+]
Key Facts
Meta is in talks about moving its legal headquarters away from Delaware, according to Bloomberg, mulling the move from a state that has built a favorable reputation among corporations for its tax benefits and lax incorporation requirements.
The social media company has talked with Texas officials regarding a potential move to the Lone Star state, The Wall Street Journal reported, citing unnamed people familiar with the matter.
Meta has also considered a reincorporation in other states, the Journal reported, though it did not specify which states were up for consideration.
Meta told Forbes there are no plans to move its corporate headquarters, which is located about 30 miles south of San Francisco, California.
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Big Number
Over 60%. That is the share of Fortune 500 companies that were incorporated in Delaware as of 2023, according to CNBC. Some of the companies incorporated in the small state include Alphabet, Amazon and Comcast.
Forbes Valuation
We estimate Zuckerberg’s net worth at $237.8 billion, making him the third-wealthiest person in the world behind Amazon co-founder Jeff Bezos ($250.7 billion) and Musk ($421.7 billion).
Key Background
It is unclear why Meta is reportedly considering a move from Delaware, a long-established tax haven for corporations. The state has less red tape attached to incorporation processes, does not require corporations to pay state corporate income tax if they operate outside of Delaware and has a court of chancery explicitly designed to handle corporate law litigation. Musk reincorporated Tesla from Delaware to Texas after the former state’s court of chancery invalidated his $50.9 billion Tesla pay package, calling it excessive.
Further Reading
Meta in Talks to Reincorporate in Texas or Another State, Exit Delaware (WSJ)
Elon Musk Says Tesla Shareholders Support $50 Billion Pay Package ‘By Wide Margins’ (Forbes)
Musk Says SpaceX Has Moved State Of Incorporation To Texas Amid Feud With Delaware (Forbes)
Texas
Sweep in the heart of Texas: Twins beat Rangers again
A day off at the pool — and a little sunburn — didn’t stop the Minnesota Twins’ momentum.
Brooks Lee hit a three-run homer as Minnesota scored multiple runs in the first inning for the third consecutive game, and the Twins went on to complete a series sweep of the Texas Rangers with a 9-3 win Thursday.
Minnesota has won four games in a row and scored 25 runs in the three-games series in Texas. The two teams had a rare, mid-series day off on Wednesday with the England-Croatia World Cup game being played in Arlington.
“We’re locked in every day,” Lee told Audra Martin on the team’s broadcast. “Yesterday, taking time off, lay out by the pool, get a little burnt and then right back to it. We did a good job getting focused. I feel like we do that with rain delays, too, just lock back in and we’re doing it.”
Lee’s 12th homer capped a four-run first off Jack Leiter (3-7). Trevor Larnach made it 6-0 in the fourth with a two-run shot to straightaway center that just cleared the extended glove of leaping Alejandro Osuna. Larnach’s third hit was an RBI single in the fifth, and Ryan Kriedler hit a two-run homer in the eighth.
Joe Ryan (5-3) struck out seven but needed 97 pitches to get through five scoreless innings while allowing three singles. Leiter was done after the fourth, and has given up 17 runs while losing three starts in a row.
The Twins never trailed in the sweep that extended their winning streak to four, matching their longest this season. Their 14-5 record at Globe Life Field is the best for any American League opponent since the ballpark opened in 2020.
Wyatt Langford, Ezequiel Duran and Justin Foscue hit solo homers for the Rangers, who have lost five of six games. They are 0-15 when giving up multiple runs in the first inning.
Twins DH Josh Bell, who was born in nearby Irving and grew up in the area, had an RBI single before Lee’s homer. Bell hit a three-run homer in the first inning of the series-opening 4-2 win Monday, and had an RBI single for a 2-0 lead in the first of a 12-2 win on Tuesday.
“We’re just passing the baton each time,” Lee said of the offensive output. “Our guys are hot. They feel good and they came out swinging today. It was awesome to see. We’ve done that for a while now.”
Up next
Twins rookie left-hander Connor Prielipp (2-4, 5.26 ERA) starts Friday at Arizona. The Diamondbacks are scheduled to start right-hander Michael Soroka (8-3, 3.11).
Texas
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Texas
DPS trooper killed in Texas Panhandle crash, agency says
A Texas state trooper was killed in a crash in the Panhandle, becoming the 244th Texas Department of Public Safety officer to die in the line of duty since 1823, according to the agency.
Sergio Romero, 27, died Wednesday after a semi-truck pulled in front of him as he attempted a traffic stop around 4 p.m. on U.S. 287 in Childress County, DPS said.
In a statement, Col. Freeman F. Martin praised Romero’s courage, integrity, and service.
“Today, we grieve the loss of one of our own,” Martin said. “… Our hearts break alongside his family, friends, fellow troopers, and all who loved him. We will never forget the ultimate sacrifice he made in service of his fellow Texans.”
Romero previously served with the Hall County Sheriff’s Office before joining DPS as part of Class B-2025 in Childress, the agency said.
He is survived by his wife, Francisca, and their two young sons.
Funeral arrangements are pending. The crash remains under investigation.
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