Facebook and Instagram parent company Meta Platforms is reportedly in talks to reincorporate in Texas. Like many large U.S. corporations, the social media giant is incorporated in Delaware, but it might soon be migrating south, according to a report in The Wall Street Journal.

Social media giant Meta is considering following in the footsteps of Tesla and SpaceX and reincorporating in Texas, according to the Wall Street Journal. The Wall Street Journal said several anonymous sources who were "familiar with the matter" told reporters Meta has spoken with Texas officials about moving the company's registration from Delaware to the Lone Star State.