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But Delaware is hard to quit. While states like Nevada, Texas, and Wyoming are becoming more popular places to incorporate, 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 \u201cbillionaires\u2019 bill\u201d as it limits shareholder suits. And the spirit of Musk still looms large: his team recently accused a Delaware judge of bias over her \u201cheart\u201d on a LinkedIn post, so she used Scrabble tiles to reassign some cases to colleagues, one of whom ruled this month that Tesla could move three shareholder suits to Texas. Barring some appeals, Musk\u2019s days in Delaware may finally be over.<\/p>\n
But one CEO is still invested in the future of the state despite moving his company elsewhere. <\/p>\n
TransPerfect CEO Phil Shawe understands Delaware courts like few others. In 2014, his co-founder and former fianc\u00e9 petitioned the court to seize control of the profitable translation management company, forcing Shawe to buy her stake at auction in 2018, a process that he says was opaque, unfair and cost $250 million in legal fees. Shaw moved TransPerfect to Nevada, growing revenues from $600 million then to $1.3 billion today.\u00a0<\/p>\n
Unlike Musk, Shawe stuck around, financing a $2 million anti-Delaware ad campaign during Musk\u2019s battles, helping elect Gov. Matt Meyer in 2024, and lobbying for changes such as mandatory audio in the courtroom, stricter conflict-of-interest rules, and financial disclosure requirements for judges. \u201cI happen to have a lot of hard-earned knowledge that not a lot of people have, and thankfully, the means to do something with it,\u201d says Shawe. He acknowledges Delaware\u2019s continued popularity and argues he isn\u2019t trying to kill it. \u201cWhat we\u2019ve been trying to do for the past couple years is not tell people to leave Delaware but actually help Delaware reform its courts.\u201d<\/p>\n
Contact CEO Daily via Diane Brady at diane.brady@fortune.com<\/p>\n
Top leadership news<\/p>\n
Blackstone\u2019s \u2018accidental influencer\u2019\u00a0<\/p>\n
Jonathan Gray, Blackstone\u2019s president and chief operating officer, has become an “accidental influencer” with his viral jogging dispatches on LinkedIn. The videos, which regularly generate half a million impressions and 100,000 views, are a sign of an unwritten rule in the C-suite: Show up on social media.\u00a0<\/p>\n
Kevin Warsh vs. lawmakers\u00a0<\/p>\n
Kevin Warsh, Federal Reserve chair nominee, is either a \u201cbattle-tested\u201d economist or a \u201csock puppet\u201d for President Donald Trump, depending on who you listened to during his appearance before the Senate Banking Committee on Tuesday. Here\u2019s what he said during the hearing.\u00a0<\/p>\n
Feedback on Apple\u2019s new CEO<\/p>\n
Reactions to John Ternus replacing Tim Cook as Apple CEO stretched from Wall Street to the White House. Warren Buffett, Sam Altman, and President Trump all chimed in, while analysts on Wall Street kept their buy ratings in the wake of the seismic shift at the company. <\/p>\n
The markets<\/p>\n
S&P 500 futures are up 0.61% this morning. The last session closed down 0.63%. The STOXX Europe 600 was up 0.15% in early trading. The U.K.\u2019s FTSE 100 was down 0.01% in early trading. Japan\u2019s Nikkei 225 was up 0.40%. China\u2019s CSI 300 was up 0.66%. Hong Kong\u2019s Hang Seng was down 1.22%. South Korea\u2019s KOSPI was up 0.46%. India\u2019s NIFTY 50 is down 0.64%. Bitcoin was up at $78K.<\/p>\n
Around the watercooler<\/p>\n
America\u2019s \u2018silent army\u2019 of skilled tradespeople are retiring with no one to replace them\u2014and the price tag could hit $1 trillion a year by Sydney Lake<\/p>\n
The Trump administration has yet to deploy a key legal move that would render tariff refund applications a \u2018waste of time,\u2019 federal litigator warns by Sasha Rogelberg<\/p>\n
Investors are valuing Polymarket at a discount to archrival Kalshi\u2014and its crypto ties could be one reason why by Jack Kubinec<\/p>\n
JetBlue told a grieving customer to clear his cookies after a $230 price hike\u2014then deleted the evidence by Catherina Gioino<\/p>\n
\u2018They\u2019re sweating\u2019: Why Japanese giants are pouring money into Silicon Valley startups by Nicholas Gordon<\/p>\n
CEO Daily is curated and edited by Andrew Wyrich, Jason Ma,\u00a0Claire Zillman, and Lee Clifford.<\/p>\n
#Musk #wanted #flee #Delaware #CEO #fix<\/p>\n","protected":false},"excerpt":{"rendered":"
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