GoKawiilMeta adopts new stock plan tied to Zuckerberg's pledge to stay in California
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.