Democratic Gov. Matt Meyer of Delaware has been making headlines for rubbing elbows with Meta CEO Mark Zuckerberg, whose legal team helped Meyer write a bill that would protect the billionaire class.
More strikingly, of the 12 law firms Meyer consulted with to draft the bill, some have close ties to President Donald Trump’s closest allies.
One law firm that was part of the drafting process of the bill was Richards, Layton & Finger, which has represented Elon Musk and Tesla. And another attorney involved in the creation of the bill is a member of a law firm that’s actively representing Zuckerberg in an ongoing shareholder case.
While many have viewed Meyer’s cooperation with MAGA elite a betrayal to Democrats, Meyer told Daily Kos that claims of his relationship with billionaires are nothing more than a smear campaign.
“[Opponents of the bill] said I had some sort of relationship with billionaires. That I sat in some back room and cooked this whole thing up, which anybody that does a little bit of research will see that’s absolutely false,” he told Daily Kos.
CNBC obtained public records showing that Meyers was in a meeting on Feb. 1 with multiple law firms, including those linked to Musk and Zuckerberg, and the Delaware legislature.
The day after, Meyers and Secretary of State Charuni Patibanda-Sanchez, met with Meta executives, including Corporate Secretary Kate Kelly and Senior National Director of State and Local Policy Dan Sachs.
Meanwhile, Meyer has emphasized that the law firms represent “tens of thousands of clients,” not just billionaires like Musk and Zuckerberg.
“With respect to Senate Bill 21, my job is to make sure we’re continuing to provide law and a court system that’s clear, that’s fair, and that’s predictable for business disputes around the world,” Meyer told Daily Kos.
Delaware has been home to many major U.S. corporations due to its friendly tax breaks to big business, but it’s been losing some of its biggest batters in recent years, including Musk in 2021.
“Never incorporate your company in the state of Delaware,” Musk wrote on X in January 2024.
Similarly, Trump’s company Trump Media—which hosts his social media platform Truth Social and his up-and-coming financial service platform Truth.Fi—will hold a shareholder vote in April to reincorporate in Florida. And earlier this year, Meta and DropBox have also hinted at reincorporating elsewhere.
But Delaware’s economy relies on its corporations.
„We have a million Delawareans who rely on the $2.2 billion that the corporation franchise brings into the state,“ Democratic State Rep. Krista Griffith told lawmakers on March 25. „What seems permanent can easily vanish.”
The $2.2 billion, which helps fund the state’s health care and education, is something Delaware cannot afford to lose.
Echoing a similar sentiment, Katie Gillis, the executive officer of the Home Builders Association of Delaware, testified in support of the bill.
“Delaware’s infrastructure networks are already lagging, and the state cannot afford to have anything risk funding for needed improvements [that] support current Delaware residents and the people who would like to move here,“ she said.
And businesses much smaller than Meta have also rallied in support of the bill, speaking on the dire need for its funding in Delaware’s schools, hospitals, and other underfunded areas.
For Meyer, this isn’t a matter of “left or right” or being in ranks with billionaires.
“That doesn’t make sense. I just proposed the most progressive tax structure, probably in the history of the state,” he told Daily Kos.
But, Meyer said, while he wants businesses to stay in Delaware, he also wants to hold the wealthy accountable, making them “pay their fair share.”
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