# Meta strikes deal with Zuckerberg to protect him from California wealth tax

- URL: https://talkfuse.com/story/meta-strikes-deal-with-zuckerberg-to-protect-him-from-california-wealth-tax/
- Published: 2026-10-22T10:10:03+00:00
- Updated: 2026-10-22T10:54:25+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/technology/2026/oct/22/meta-mark-zuckerberg-california-wealth-tax
- Topics: Business, Companies, Software, Technology

## Key points

- Meta will issue non-voting shares Zuckerberg could sell to cover a possible tax.
- He has committed to remain in California or Meta’s base for eight years.
- The proposed 5% tax would cover about 250 billionaires.

## Summary

Meta has agreed to give Mark Zuckerberg a way to fund a possible California billionaire tax while preserving his control of the company. In return, he has committed to remain resident in California, or wherever Meta is based, for eight years.

The arrangement comes ahead of a vote on Proposition 40, a proposed one-off 5% tax on about 250 billionaires in California. Meta plans a two-for-one share split that creates non-voting shares Zuckerberg could sell to pay a tax bill; polls show the measure lacks majority support, and several tech billionaires are campaigning against it. Meta also reported quarterly revenue up 26% to $64.6bn, while profit fell 37% to $13bn, partly due to a $9.9bn legal charge, and its workforce was down 15% year on year to 66,775.

---
Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.