At a glance
Mark Zuckerberg informed Meta directors that he might depart California to avoid a potential wealth tax.13
Board members feared his potential exit could disrupt the company's artificial intelligence ambitions.24
In response, Meta created a new class of stock intended to assist him with a potential tax bill.13
The maneuver allowed Zuckerberg to remain in the state instead of listing his Palo Alto home for sale.12
Where sources agree
- Meta created a new share class4 of 4
- Mark Zuckerberg considered leaving California3 of 4
Who covered this
4 National
Sources
- 1The New York TimesHow Mark Zuckerberg Pushed Meta to Shield Him From California’s Proposed Wealth Tax ↗
- 2MarketWatchThis wonky maneuver kept Mark Zuckerberg from fleeing a California billionaire tax ↗
- 3FortuneZuckerberg told Meta directors he might leave California, where he could lose billions to a wealth tax. Meta answered with a new class of stock ↗
- 4WiredMark Zuckerberg Agrees to Stay in California Despite Billionaires’ Tax Ballot Measure ↗
Based on reporting from these reputable newsrooms and reviewed by Orbit’s editors. A fact appears only when at least two sources report it. Orbit is not affiliated with these publishers.
