Delaware Working Families Party backs six primary challengers over billionaires bill
Updated
Updated · CNBC · May 1
Delaware Working Families Party backs six primary challengers over billionaires bill
7 articles · Updated · CNBC · May 1
The endorsements target four state House and two state Senate incumbents who supported SB 21, a 2025 law critics say benefits executives including Elon Musk and Mark Zuckerberg.
Opponents say the measure weakens shareholder oversight by easing approval of insider deals and limiting access to company records, while supporters argue it preserves Delaware's clear, predictable corporate law.
The fight reflects tension between Delaware's business-friendly legal model and progressive Democrats; Tesla moved its incorporation after Musk's pay dispute, though the state supreme court later restored his package independently of SB 21.
With new laws and court rulings favoring Elon Musk, has Delaware's famed legal system surrendered its oversight of powerful CEOs?
Delaware passed its 'billionaires bill' to stop companies from leaving. Is this a necessary evil or a fatal blow to corporate accountability?
Delaware relaxed its corporate laws to keep businesses. Are we witnessing a nationwide 'race to the bottom' for shareholder rights?