Trump Media and Technology Group, the parent company of Truth Social, announced Thursday that it would move its founding in Florida and become the latest company to leave a popular Delaware company.
The move was approved by Trump Media shareholders at its annual general meeting on Wednesday, according to a press release.
“We are excited to reincorporate the company into Florida,” Trump's media CEO and chairman Devin Nunes said in a statement. “By respecting business orientation and the rule of law, Florida is the perfect place for Trump media to officially call home.”
Several other companies have recently chosen to reconfigure outside of Delaware. Most notably, he moved his company out of the state after clashing with a judge on a multi-billionaire and Trump ally Elon Musk with a judge.
Musk reconfigured Texas while moving Tesla and SpaceX to Nevada. He had previously moved to Nevada in 2023, both for his social platform X and for his boring company.
He also encouraged other companies to move last February, saying, “If your company is still in Delaware, we recommend moving to another state as soon as possible.”
Delaware lawmakers passed a change to the business law earlier this year amid growing concerns about the number of businesses leaving the state.
“Delaware is the best place in the world to incorporate your business, and Senate Bill 21 will keep it that way, helping to ensure clarity and predictability and balance the interests of shareholders and the Corporate Committee.”
