Meta grants Zuckerberg stock deal tied to California tax fight
Why it matters: The pact could offset roughly $10 billion if voters approve a 5% tax on California billionaires in November.
Meta struck an eight-year arrangement with CEO Mark Zuckerberg that gives him additional stock and easier quarterly sales if he remains a California resident, according to a financial filing. The company said the agreement was meant to keep Zuckerberg leading Meta from California as the state heads toward a November vote on a one-time 5% tax on residents worth more than $1 billion. With a fortune estimated above $200 billion, Zuckerberg could face about $10 billion in added state taxes if the measure passes. The filing said negotiations with a special committee were robust and at times contentious. Meta framed the deal as important during a sweeping AI-driven shift in tech and the broader economy.