Meta Reaches Deal to Keep CEO Mark Zuckerberg in California for Eight Years

Meta Platforms has reached an agreement to secure Chief Executive Mark Zuckerberg's California residency for eight years amid concerns over a proposed wealth tax. To prevent Zuckerberg from relocating or losing voting control, Meta will issue non-voting Class C common stock in January 2027 as an effective two-for-one split. Zuckerberg can sell up to 20% of his new Class C shares, or 10% of his total economic interest, to cover potential liabilities from Proposition 40's proposed 5% billionaire tax. Meta's special board committee deemed his retention essential as the company plans massive AI infrastructure financing.