Why so many companies are incorporated in Delaware
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 2 February 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
Elon Musk is considering reincorporating Tesla in Texas after a court in Delaware, where Tesla is currently incorporated, voided his $56 billion compensation package. But roughly two-thirds of Fortune 500 are incorporated in the First State. We’ll examine why. Plus, Apple and Amazon are doing just fine, as reported in their latest earnings. And how can nature be a measurable part of our economy? The Biden administration seeks to find out.
Transcript
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| 0:00.0 | There are headquarters where the bosses work and there are |
| 0:04.4 | headquarters for legal and tax purposes. Sometimes those are in different places. |
| 0:08.6 | I'm David Brancashio First, Apple and Amazon are doing just fine. They reported their latest quarterly |
| 0:14.8 | profits yesterday as marketplaces Nancy Marshall Genser reports both |
| 0:18.5 | companies are taking in more money than analysts were expecting. Apple reported earnings from the first quarter of fiscal 2024. |
| 0:26.0 | It says revenue for the quarter was up 2% over the same time last year. |
| 0:31.0 | Apple CEO Tim Cook cited iPhone sales and what he called an... same time |
| 0:35.0 | revenue record in services. |
| 0:38.0 | Apple announced earnings just as it was launching its new Vision Pro augmented reality headset. |
| 0:44.0 | Amazon reported earnings for the fourth quarter of last year. |
| 0:47.4 | It says net sales were up 13% compared with the fourth quarter of 2022. |
| 0:52.6 | Amazon says it had a record-breaking holiday shopping season, |
| 0:56.1 | and it's introducing a new AI shopping assistant |
| 0:59.2 | it's calling Rufus. |
| 1:01.1 | Rufus can answer customers questions and recommend products. |
| 1:05.0 | I'm Nancy Marshall Genser for Marketplace. |
| 1:08.0 | Now that a Delaware business court has nixed Elon Musk's 56 billion dollar compensation package, confirmed that's |
| 1:15.4 | billion with a B. The Tesla CEO is saying he wants to pick up legal stakes and reincorporate |
| 1:21.0 | the E.V EV company in Texas. |
| 1:23.2 | Tesla is currently incorporated in Delaware, as are about two-thirds of the Fortune 500. |
| 1:28.2 | Marketplace's Stephanie Hughes looks into why that's the case and how other states are trying to win over some of these |
| 1:33.4 | legal domiciles. Delaware's reputation as being the place to incorporate goes |
... |
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