Meta strikes deal with Zuckerberg to protect him from California wealth tax

Zuckerberg, worth $239bn, according to Forbes, told Meta he was considering moving his primary residence outside California because Prop 40 could expose him to a massive tax liability. Photograph: Godofredo A Vásquez/AP

Meta has struck a deal with Mark Zuckerberg to protect him from the threat of a California wealth tax targeting billionaires.

The social media company behind Facebook, Instagram and WhatsApp revealed on Wednesday night that the arrangement would keep its chief executive living in California, where its headquarters are located.