Mark Zuckerberg considered moving out of California over a proposed billionaire wealth tax that could leave him facing an estimated $11 billion (£8.21 billion) bill. The Meta chief executive has since reached an arrangement that could help him cover the potential liability without immediately sacrificing his voting control of the technology giant, while committing to remain in California for at least eight years.
The proposed tax would impose a one-time 5% levy on the net worth of qualifying billionaires who met California's residency requirements on 1 January 2026. The measure highlights how a tax on wealth could affect fortunes built largely through company shares rather than conventional salaries.
