Mark Zuckerberg Agrees to Stay in California Despite Billionaires’ Tax Ballot Measure
What happened
Mark Zuckerberg agreed to remain in California for eight years, potentially facing a one-time 5 percent tax if voters approve Proposition 40 next month.
The measure would tax stock and other assets held by California billionaires as of January 2026, though it could face lawsuits even if approved, according to Wired.
Meta's board committee tied Zuckerberg's ability to sell new non-voting shares to continued California residence, a regulatory filing said.
Zuckerberg may sell 20 percent of the shares to pay taxes, while the remaining 80 percent can be sold over eight years if he stays in California.
Meta plans to give the new non-voting shares to all shareholders in proportion to their holdings and says they could fund AI data-centre investments.
Summary written by AI from 2 independent sources (Engadget, Wired) and checked automatically against them for copied text and numbers that are not in the sources. How we work
Open on the live globe →Who reported it
- 2026-10-21 22:36 UTCEngadget · engadget.com ↗
- 2026-10-21 22:37 UTCPrensa Libre · prensalibre.com ↗
- 2026-10-21 22:39 UTCWired · wired.com ↗
- 2026-10-22 00:48 UTCMarketWatch · marketwatch.com ↗
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