Meta Creates Non-Voting Class C Shares to Fund AI Buildout and Preserve Zuckerberg Control

Meta Platforms will issue a one-for-one dividend of new non-voting Class C shares to existing shareholders in January 2027, functioning effectively as a two-for-one stock split. The move allows Meta to finance massive AI capital expenditures, potential acquisitions, and equity compensation without diluting CEO Mark Zuckerberg's 60.6% voting control. Alongside the recapitalization, Meta narrowed its full-year capital expenditure forecast to $135 billion to $145 billion and reported third-quarter revenue of $64.6 billion, up 26% year-over-year. Third-quarter capex reached $34.91 billion, resulting in negative free cash flow of $2.12 billion.