Story perspectives

Meta Board Approves New Nonvoting Shares for Zuckerberg Control

By Drooid · Oct 23, 2026, 1:57 AM UTC · How we work

Summary

Story summary

Meta Platforms’ board approved a new non-voting Class C common-stock series for CEO Mark Zuckerberg.
The shares let Zuckerberg keep voting control while selling up to 20% for liquidity.
Zuckerberg’s $220 billion net worth could trigger an $11 billion payment under Proposition 40, a 5% California wealth tax voted on Nov 3, 2026.
Meta says the Class C issuance will also fund AI projects, employee compensation and acquisitions.

History

Historical Context

Google’s 2004 IPO introduced a dual-class structure—Class B shares carried ten votes each while only about 11% of its 172.85 million shares were publicly floated—allowing founders Larry Page and Sergey Brin to retain control. In 2026 Meta Platforms adopted a similar model, issuing non-voting Class C shares so CEO Mark Zuckerberg can preserve authority while selling a portion to the market.

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Story summary

Meta Platforms’ board approved a new non-voting Class C common-stock series for CEO Mark Zuckerberg.
The shares let Zuckerberg keep voting control while selling up to 20% for liquidity.
Zuckerberg’s $220 billion net worth could trigger an $11 billion payment under Proposition 40, a 5% California wealth tax voted on Nov 3, 2026.
Meta says the Class C issuance will also fund AI projects, employee compensation and acquisitions.

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