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President Donald Trump’s media company is moving from former President Joe Biden’s home state of Delaware to the Free State of Florida.
Trump Media & Technology Group (TMTG), the company behind Truth Social, officially made the move on Wednesday, according to a filing with the Securities and Exchange Commission.
Trump Media CEO and Chairman Devin Nunes said, “We’re thrilled to reincorporate our Company in Florida. With its pro-business orientation and respect for the rule of law, Florida is a great place for Trump Media to officially call home.”
Florida Attorney General James Uthmeier celebrated the official news of the company’s move.
“As Delaware becomes the home of corporate lawfare by woke activists, @realDonaldTrump knows that Florida is where woke goes to die, free speech thrives, and businesses can get back to the business of doing business,” he wrote.
Nunes announced in February that TMTG was considering the move.
“We are committed to Florida, which has an outstanding business climate and shows tremendous respect for free enterprise. We look forward to uniting our legal home with our physical home as we explore possibilities for mergers, acquisitions, partnerships, and other growth,” he wrote.
In addition to Truth Social, TMTG operates Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content. TMTG is also launching Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles.
TMTG joins a growing number of companies moving from Delaware. Elon Musk moved his companies, including Neuralink, SpaceX, and Tesla, after a judge ruled against his $56 billion Tesla compensation plan.
“Never incorporate your company in the state of Delaware,” Musk posted to X following the ruling.
According to Newsmax, “Pershing Square Capital Management, online retailer Mercado Libre, Roblox, Tripadvisor, Affirm, AMC cable networks, Madison Square Garden, and Dropbox are among companies that have followed Musk getting out of Delaware, as has the nation’s largest shopping mall owner, Simon Property Group.”
The report added that “Walmart, Meta (Facebook), and other blue-chip companies are considering leaving Delaware as its location of incorporation.”
