Billionaire Ackman to reincorporate management company in Nevada

Reuters02-02 00:10

UPDATE 2-Billionaire Ackman to reincorporate management company in Nevada

Adds Pershing Square's response in paragraph 3

Feb 1 (Reuters) - Bill Ackman, the owner of investment firm Pershing Square, said on Saturday that he is reincorporating his management company in Nevada.

"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 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.

(Reporting by Shivani Tanna in Bengaluru; editing by Diane Craft)

((ShivaniJayesh.Tanna@thomsonreuters.com;))

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Bill Ackman, the owner of investment firm Pershing Square, said on Saturday that he is reincorporating his management company in Nevada.   \"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. 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