Meta Reaches Agreement with Zuckerberg: Non-Voting Shares Granted to Address California Wealth Tax in Exchange for 8-Year Residency Commitment

Odaily: Meta has announced an agreement with CEO Mark Zuckerberg to issue sellable non-voting shares to him, intended to cover potential tax liabilities amounting to billions of dollars should the California wealth tax proposal pass. In exchange, Zuckerberg has committed to residing in California or at Meta's headquarters location for 8 years. Zuckerberg previously stated that he was considering leaving California if Proposition 40—a ballot measure scheduled for a vote next month that would impose a one-time 5% wealth tax on California billionaires—were to pass. Zuckerberg's net worth is approximately $240 billion, and he would be able to immediately sell 20% of the Class C shares granted, equivalent to 10% of his economic interest in the company, while retaining voting control. Meta will issue new non-voting Class C common stock in January 2027, effectively equivalent to a 2-for-1 stock split.