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California Billionaire Tax

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Meta deal lets Zuckerberg sell shares without losing control amid California tax threat

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.