State Attorney General Beau Biden is alleging that the trustees of a $4.6 billion trust, established to fund several charitable endeavors in Delaware, have reallocated money intended for the state toward Florida and restructured the trust’s governing body to dilute Delaware’s influence. Biden claims these actions have violated the intent of the trust, which was established by Alfred I. duPont, as well as Florida law.
“Today my office has filed an action asking the court in Florida to order the trustees of this over $4 billion trust to adhere to Mr. duPont’s clear intent that Delaware’s children and elderly be the ultimate beneficiaries of his trust, established over 75 years ago,” Biden said at a June 18 press conference in Wilmington.
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