Meta strikes deal to keep Zuckerberg in California after wealth tax concerns
- Meta CEO Mark Zuckerberg has agreed to maintain his Silicon Valley residence for eight years under a new 'Founder Alignment Agreement' linking his ability to sell company shares to continued California residency.
- During a September 9 dinner, Zuckerberg informed board members he was considering leaving California because of Proposition 40, which proposes a one-time 5 percent tax on billionaire assets held as of January 2026.
- Under the agreement, Zuckerberg can sell 20 percent of new nonvoting shares to cover taxes, while the remaining 80 percent becomes available in chunks over eight years if he remains in California.
- While Google cofounders Sergey Brin and Larry Page reportedly exited California over tax concerns, recent polling suggests Proposition 40 will fail after about $129 million in campaign spending against it.
182 Articles
182 Articles
Mark Zuckerberg makes deal with Meta to help him pay billionaire tax if it passes
Mark Zuckerberg made a deal with Meta's board to help him pay a proposed California tax on billionaires without losing his ownership stake in the company he founded, according to regulatory filings
California voted on 3 November on a proposal to introduce an exceptional 5% tax on the fortunes of billionaires.
Will Californians soon vote for a billionaire tax? Mark Zuckerberg has already indicated it for a remarkable deal with Meta, while a...
Mark Zuckerberg's creative plan to pay California’s proposed billionaire tax without losing control of Meta
A newly launched stock class being offered was partially engineered to help Meta founder and CEO Mark Zuckerberg pay the "billionaire's tax," should the measure be voted into law.
Mark Zuckerberg has cause for concern. Meta’s founder and CEO has been arguing with his company for several days if he is leaving California to avoid the tax on the rich that is being prepared in the state. If the Democratic initiative prospers, taxpayers...
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