Meta has agreed to keep CEO Mark Zuckerberg in California for eight years, addressing concern that a proposed billionaire wealth tax could prompt him to relocate. In exchange, he will receive non-voting Class C shares that he can sell if voters approve Proposition 40 next month, and he may immediately sell 20% of them to cover a potential tax bill while keeping voting control. Meta's special board committee said it is 'critically important' for Zuckerberg to remain in leadership amid AI-driven challenges and competition. Beginning Jan. 19, 2027, shareholders will receive one Class C share for each Class A and Class B share, a move Meta says will raise capital, compensate employees and fund acquisitions without diluting voting power; Zuckerberg and Priscilla Chan control 56.1% of voting power. World Trade Securities CEO Nicholas Mugalli saw the plan as a sign of 'more capex coming,' with 2026 capex guided at $135 billion to $145 billion, and third-quarter revenue reached $64.6 billion, above estimates of $63.37 billion.
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META
• NeutralMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.7T |
| Close on 10/23/2026 | 642.26 |
| Change that session | -1.02% |
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