Meta disclosed in a quarterly filing that it created a new class of non-voting stock, effective January, that could help offset taxes Zuckerberg would owe if California's Proposition 40 billionaires tax passes on Nov. 3. In exchange, Zuckerberg has committed to remain a California resident for eight years, with exceptions for unforeseen circumstances. The 5% tax would apply to Californians worth over $1 billion; Zuckerberg's net worth is about $225 billion.
cnbc.com
· 2026-10-22
Meta has reached an agreement allowing Mark Zuckerberg to sell shares without losing control of the company, aimed at keeping him in California if a proposed billionaire tax passes. The measure, a one-time 5% levy on residents worth over $1bn, goes before California voters on 3 November. Zuckerberg had warned Meta's board he was considering moving his primary residence out of the state.
bbc.co.uk
· 2026-10-22
OpenAI and Anthropic are preparing to go public within the next year or two, with Anthropic's IPO potentially raising as much as $2 trillion and OpenAI targeting $1.4 trillion, though OpenAI has pushed its listing to 2027 over AI safety concerns. Researchers note that such windfalls could add to an already growing trend of tech entrepreneurs funneling personal fortunes into biomedical science, citing examples like Altos Labs, which launched in 2022 with $3 billion from investors including Yuri Milner and Jeff Bezos, and the Chan Zuckerberg Initiative.
nature.com
· 2026-10-21
Elon Musk announced a plan to give every child in the United States a share of SpaceX, according to the report. The pledge follows similar commitments reportedly made by Anthropic and other prominent technology figures, though specifics on timing, funding, or implementation were not detailed.
wsj.com
· 2026-10-19
A Wall Street Journal survey of 1,500 registered voters conducted in late September found 63 percent support pausing AI development, 57 percent want immediate government regulation of AI, and only 12 percent trust AI companies to regulate themselves. The same poll found broad bipartisan support for populist economic measures, including a 61 percent backing for a federal wealth tax on billionaires, 90 percent support for banning surprise medical bills, and 79 percent favoring a 10 percent cap on credit card interest rates.
futurism.com
· 2026-10-03
A new study finds that the wealthiest tier of billionaires—so-called 'super billionaires'—has seen its portion of global wealth grow roughly fourfold over the past ten years. The report also profiles the typical billionaire as a 71-year-old man whose fortune continues expanding even as overall billionaire numbers rise worldwide.
fastcompany.com
· 2026-09-09
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