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Zuckerberg Funds California Wealth Tax With Nonvoting Meta Shares

By Drooid · Oct 24, 2026, 10:00 PM UTC · How we work

Summary

Story summary

Mark Zuckerberg struck a deal to fund California’s billionaire wealth tax while retaining Meta control.
The deal creates non-voting shares representing up to 10 % of his economic stake.
Zuckerberg pledged to remain in California for eight years unless material unforeseen circumstances arise.
If Proposition 40 passes, a one-time 5 % tax would apply to wealth above $1 billion.
Zuckerberg’s $230 billion net worth could generate more than $11 billion in tax liability.

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Story summary

Mark Zuckerberg struck a deal to fund California’s billionaire wealth tax while retaining Meta control.
The deal creates non-voting shares representing up to 10 % of his economic stake.
Zuckerberg pledged to remain in California for eight years unless material unforeseen circumstances arise.
If Proposition 40 passes, a one-time 5 % tax would apply to wealth above $1 billion.
Zuckerberg’s $230 billion net worth could generate more than $11 billion in tax liability.