@dershpiel: Jewish billionaire Mark Zuckerberg warned Meta’s board he was considering leaving California over a proposed 5% wealth tax. The company responded with a deal allowing him to sell billions of dollars in shares while keeping control of Facebook and Instagram’s parent company. Meta plans to create new shares without voting rights. Zuckerberg could sell some to cover a potential tax bill without selling the shares that give him decision-making power. In return, he agreed to remain in California, or wherever Meta keeps its headquarters, for eight years. The tax still needs voter approval. The agreement helps him raise money to pay it while protecting his control of the company.

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Thursday 22 October 2026 15:52:58 GMT