Meta Strikes Deal to Retain Mark Zuckerberg in California Amid Billionaire Tax Threat
Mark Zuckerberg has reached a deal with Meta to remain in California despite concerns over a proposed billionaire wealth tax. The agreement comes after Zuckerberg expressed his intention to leave the state due to the potential financial impact of the tax, which could be as high as 5%. To address this, Meta approved a new class of non-voting shares aimed at shielding Zuckerberg from the tax burden while allowing him to maintain control of the company. This maneuver has sparked discussions on the implications of wealth taxes and also serves to keep Zuckerberg in California, where he reportedly has significant ties and assets. The deal is seen as a response to the looming Proposition 40 vote, which could further shape the tax landscape for billionaires in the state.
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