"We are reincorporating our management company in Nevada for the same reason. Top law firms are recommending Nevada and Texas over Delaware," Ackman wrote.
Ackman is not alone in the exodus.
Big Tech's Dropbox revealed in a shareholder resolution that it was moving from Delaware to Nevada.
And Coinbase chief legal officer Paul Grewal warned on X that "Delaware is at serious risk of losing its standing as the leading state of incorporation for American companies."