According to filings published this week, Mark Zuckerberg reached a deal with Meta's board to help him pay a proposed California wealth tax without losing his ownership stake in the company. The one-time 5% tax on net worth above $1 billion goes to voters in the election concluding Nov. 3; with his net worth estimated by Forbes at more than $220 billion, his liability would exceed $11 billion. Under the deal he remains the majority owner and can sell some new non-voting shares “for any reason,” including to pay tax bills, and he has committed to stay in California for eight years unless “material unforeseen circumstances” arise. He had considered selling his Palo Alto home last month before striking the deal. Supporters including SEIU United Healthcare Workers West and Sen. Bernie Sanders back the tax, while Gov. Gavin Newsom has warned it could prompt the state's wealthiest to leave.
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META
• NeutralMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.9T |
| Close on 10/21/2026 | 698.43 |
| Change that session | +0.60% |
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