December 2025 – OpenCorporates

Delaware is “losing incorporations”? Our data shows a different story

Delaware’s incorporations are still growing in absolute terms. Our data shows Delaware’s total recorded companies rising from 5.02m (Nov 2023) to 5.30m (Nov 2024) to 5.62m (Nov 2025), a ~10% increase over two years. The real change is in where new, small entities (especially LLCs) are being formed. Our December 2024 blog series documents that Wyoming overtook Delaware in new incorporations on a per‑capita basis, powered by a nationwide explosion in LLCs. High‑profile “DEXIT” reincorporations are happening, but they don’t equal an overall collapse. After court‑driven flashpoints, some large companies announced moves (e.g., Tesla and SpaceX), a visible but numerically limited subset of total formations.

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December 16, 2025

Reading List / Resources

15 years of corporate transparency: The ultimate resource list

Fifteen years ago, Chris Taggart founded OpenCorporates with a simple mission: to make legal-entity data transparent and reliable. Today, that mission is more critical than ever. We've built the foundation for the first step of any transaction; verifying a legitimate business from its primary source, such as Secretaries of State and Companies House. OpenCorporates was an early innovator in this space, establishing itself as the most trusted source for legal-entity data, anchored in our seven Legal-Entity Data Principles. This commitment to provenance and quality is what sets our data apart.

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December 10, 2025