Elon Musk billionaires bill supporters draw progressive challengers in Delaware
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- The Delaware Working Families Party told CNBC exclusively that it is endorsing six Democratic candidates in primaries against fellow Democratic incumbents who supported SB 21.
- Musk, whose record $56 billion pay package was in legal limbo in Delaware, relocated Tesla's incorporation out of state during the spat.
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A progressive wing of the Democratic Party in Delaware is endorsing primary opponents to six incumbent Democratic state lawmakers who pushed for a change to the state's corporate law that benefits executives and billionaires, including Elon Musk and Mark Zuckerberg, who have faced shareholder litigation in the state.
The Delaware Working Families Party told CNBC exclusively that it is endorsing six Democratic candidates in primaries against fellow Democratic incumbents who supported SB 21. The measure became law in 2025 and was dubbed the "billionaires bill" by opponents. The law altered how companies can use independent directors and other officials to ensure deals they've made will pass muster in court, and it limited the records shareholders can obtain from companies when investigating possible wrongdoing.