Meta Stock Split Deal Will Keep Mark Zuckerberg In California Amid Billionaire Tax Threat
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Image: Business Insider.
Meta’s board struck a stock-split deal that will keep founder and chief executive Mark Zuckerberg in California, Forbes reported. The billionaire had considered leaving the state over a proposed wealth tax that could have forced him to sell shares and weaken his voting control of Meta, the outlet reported.
The Wall Street Journal reported that Zuckerberg feared a proposed billionaire tax in California would force a major share sale that threatened his voting control of the company, and that Meta’s board cut him a deal after he threatened to leave the state.
The measure, Proposition 40, is California’s proposed billionaire wealth tax and looks like a close call based on recent polls, CNBC reported, with Election Day set for Nov. 3.