Billionaire Ackman to reincorporate management company in Nevada
© Reuters. FILE PHOTO: Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian/File Photo
Bill Ackman, the owner of investment firm Pershing Square, said on Saturday that he is reincorporating his management company in Nevada, News.Az reports citing Investing.
"We are reincorporating our management company in Nevada...," the billionaire investor said in response to a post on X, adding that top law firms are recommending Nevada and Texas over Delaware.
Pershing Square said it did not have any comment beyond Ackman's post on X.
Last year, Elon Musk moved Tesla (NASDAQ:TSLA) and SpaceX's incorporation to Texas and shifted Neuralink's incorporation to Nevada. Musk's move to exit Delaware came after a court in the state ordered him to give up his $56 billion compensation package.
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