Meta strikes deal to stop Mark Zuckerberg leaving California over billionaire tax
Meta has reached an agreement with Mark Zuckerberg to prevent him from leaving California. Zuckerberg had expressed his intention to relocate his primary residence outside the state due to a proposed wealth tax on billionaires.
The story so far
- Oct 22
How outlets cover it
3 outletsNot rated on the left–right scale. It describes Western party politics and doesn’t fit state media or outlets outside that system, so we show ownership and country instead.
Open questions and key claims
US Congressman Rohit Khanna described Prop 40 as a choice between the working class and oligarchs.
Meta expressed concern that Zuckerberg’s voting power could drop significantly if he had to sell shares to pay increased taxes.
Mark Zuckerberg has a $226bn fortune according to Forbes' billionaires tracker.
Zuckerberg told Meta's board he was evaluating relocating his primary residence outside California.
Meta has agreed a deal with Mark Zuckerberg to stop him leaving California due to a proposed tax on billionaires.
Meta reported a 26% rise in revenues for the last quarter to $64.6bn, but profits fell by 37% to $13bn.
Meta has agreed to a deal with Mark Zuckerberg to help him pay a potential California wealth tax targeting billionaires.
Mark Zuckerberg will receive new Meta shares in exchange for agreeing to remain in California for at least eight more years.
Who and where
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- Oct 22◆ This story