Mark Zuckerberg warned Meta that California's proposed billionaire wealth tax could push him out of the state. The company's board responded with a stock restructuring that would help its chief executive pay a potential multibillion-dollar tax bill while preserving his voting control.
Zuckerberg then agreed to remain a California resident, or live wherever Meta maintains its headquarters, for eight years. The arrangement links the billionaire's personal tax concerns to the ownership structure of one of the world's largest technology companies.
