Friday, 23 October, 2026
Tax Escape Threat: How Meta Struck an 8-Year Deal to Keep Zuckerberg in California
By TechShots Studio
To prevent Mark Zuckerberg from fleeing California over a proposed 5% billionaire wealth tax—which threatened his majority voting control—Meta created non-voting Class C shares. While the board initially resisted share restructuring, they ultimately compromised to keep him in leadership. In exchange for the liquidity to pay potential tax bills without losing voting power, Zuckerberg committed to staying in California for eight years.
Read full story at LIVEMINT