Mark Zuckerberg owns about 13% of Meta but controls about 61% of its votes, because his Class B shares carry 10 votes each. California voters will decide on Nov. 3 on Proposition 40, a proposed one-time 5% tax on billionaires' net worth. Paying it would likely require him to sell stock or borrow against it, which would reduce his voting control. Meta's independent committee said he was 'not on the verge of losing voting control' but named the wealth tax as the main factor that could change this. The committee proposed a dividend of non-voting stock, payable only if Proposition 40 becomes law and his tax falls due, sized to cover the bill; Zuckerberg wanted more protection in case similar taxes are proposed elsewhere.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Mark Zuckerberg owns 13% of Meta but controls 61% of its votes. California’s wealth tax would bill him on the 13%
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Related tickers and likely impact
META
• NeutralMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.9T |
| Close on 10/22/2026 | 648.91 |
| Change that session | -6.97% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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