Story perspectives

Zuckerberg Agrees to Stay in California for Eight Years

By Drooid · Oct 23, 2026, 5:58 PM UTC · How we work

1 1

Summary

Zuckerberg Remains in CA

Mark Zuckerberg, Meta CEO, agreed to remain in California for eight years after a deal.
The deal creates a new non-voting Class C share class that Zuckerberg can sell.
He may sell up to 20% of the Class C shares to cover the tax.
Proposition 40 would levy a one-time 5% tax on billionaire wealth, costing Zuckerberg about $12.4 billion.
Opponents, including Gov. Gavin Newsom, have raised over $130 million, outspending supporters more than five-to-one.

Summary

Meta Ordered $25B

A New Mexico court ordered Meta to pay $25 billion for privacy violations.
A jury found Meta liable for over 43 million consumer-protection law violations.
A judge reduced the potential award from over $219 billion to $25 billion, below the state's $35-$40 billion request.
The penalty will be allocated to education under New Mexico’s constitution.

History

Historical Context

On May 18 1998 the DOJ and 20 states sued Microsoft for bundling Internet Explorer with Windows; Judge Thomas Penfield Jackson found a monopoly and ordered a breakup, later settling with behavioral remedies. That precedent for huge penalties resurfaces in California’s Proposition 40 and New Mexico’s $25 billion privacy verdict against Meta. The 2008 EU fine of €899 million underscores the case’s lasting influence.

1 of 3

Zuckerberg Remains in CA

Mark Zuckerberg, Meta CEO, agreed to remain in California for eight years after a deal.
The deal creates a new non-voting Class C share class that Zuckerberg can sell.
He may sell up to 20% of the Class C shares to cover the tax.
Proposition 40 would levy a one-time 5% tax on billionaire wealth, costing Zuckerberg about $12.4 billion.
Opponents, including Gov. Gavin Newsom, have raised over $130 million, outspending supporters more than five-to-one.

1 / 3