On February 17, 2025, Delaware lawmakers proposed amendments to the state’s corporate law through Senate Bill 21 or the “Billionaires’ Bill” that would enable billionaires like Elon Musk to raid corporate treasuries at the expense of working people like teachers and construction workers counting on their pensions for a secure retirement. This Billionaires’ Bill was drafted by Elon Musk’s lawyers in secret and far outside the usual procedure for formulating changes to the state’s corporate law, which governs around two thirds of the corporations in the S&P 500.

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