Texas Surpasses California in Fortune 500 Headquarters
Texas has now taken the lead over California, hosting the most Fortune 500 company headquarters, with a tally of 57 compared to California’s 56 on the 2026 list. Texas Congresswoman Beth Van Dine has expressed her support for the state’s business-friendly policies and community.
On Thursday, Dell Technologies revealed that its shareholders have approved a move to change the company’s state of incorporation from Delaware to Texas. Michael Dell, the founder and CEO, shared the overwhelmingly positive results of the vote via a post on the social media platform X, noting that an impressive 97% of shareholders were in favor of the transition.
“Today, Dell shareholders voted by 97% to move our legal domicile to Texas,” he wrote. “This is home, and it’s where we’ve always belonged. Texas has given us the talent, the university, and the environment to build something lasting. We’re proud to officially announce it. Let’s go,” he added with enthusiasm.
Dell Reduces Workforce for Third Consecutive Year
The company’s board had approved the proposal back in May, and during that time, Michael Dell emphasized that Texas is where the company has innovated and invested for over 40 years, reflecting its longstanding roots in the state.
Dell Technologies, founded in 1984 while Dell was a student at the University of Texas at Austin, has a significant presence in Texas. In 1994, the company established its corporate headquarters in Round Rock, further solidifying its Texas identity.
With this shift, Dell Technologies will now address legal disputes with shareholders in Texas courts, which are perceived as offering a more favorable climate for businesses than Delaware’s Court of Chancery.
Elon Musk, CEO of Tesla, praised Dell’s decision on social media, succinctly commenting “Texas” in response to Dell’s announcement. Musk himself had previously relocated Tesla’s incorporation from Delaware to Texas after facing issues with a Delaware ruling concerning his compensation package.
Musk had sought shareholder approval for the relocation after a Delaware judge overturned his $56 billion compensation package in January 2024, leading him to refute the wisdom of forming companies in Delaware. Eventually, Tesla shareholders approved the transition, and, interestingly, the Delaware Supreme Court later overturned the ruling.
Musk also took steps to transfer various other businesses from Delaware, moving SpaceX’s legal incorporation to Texas and some businesses to Nevada.
