GoKawiilMeta creates non-voting Class C shares amid Zuckerberg's tax concerns
Meta's board approved a new non-voting Class C common stock class, effective January, which the company says will fund capital raising, employee pay and acquisitions tied to its AI push. The New York Times reports an SEC filing shows the plan was also shaped by CEO Mark Zuckerberg's concerns about California's proposed Proposition 40 billionaire tax, which could impose a one-time 5% levy on billionaires' net worth.
GoKawiil's interpretation of the reporting above, not reported fact.
Because the new shares carry no votes, Zuckerberg could sell some to raise cash for a potential tax bill without diluting his roughly 60% voting control of Meta, according to the Times' reporting of the SEC filing. The Times also reports Zuckerberg pressed the board for a solution and suggested he might sell his Palo Alto home if none emerged, which could indicate how seriously he weighed the tax's financial impact, though Meta itself frames the stock move primarily around financing needs.
- Meta's new Class C non-voting stock takes effect in January 2025.
- An SEC filing reportedly links the stock plan to board discussions about California's Proposition 40 billionaire tax.
- The structure could let Zuckerberg raise cash for taxes without losing his majority voting control.
Source: techcrunch.com — Lucas Ropek, 2026-10-22
Published there as: “Mark Zuckerberg’s creative plan to pay California’s proposed billionaire tax without losing control of Meta”
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