Tech companies are quietly revolting in Delaware

The share of new incorporations in Delaware has fallen nearly 10 percent after buzzy reincorporations by Elon Musk's companies

(Please use a modern browser to see the interactive version of this visualization)

Source: Ramp Economics Lab; incorporations data from 45,000+ U.S. businesses on Ramp's spend platform. Chart shows the net change in share of incorporations among tech companies compared to 2021.