Meta reaches deal with Zuckerberg to prevent California exit over billionaire tax
Current overview (not historical)
Meta has reached an agreement with Mark Zuckerberg to retain his control of the company even if he leaves California to avoid a proposed billionaire tax. The deal allows Zuckerberg to potentially relocate while maintaining voting control, provided he pays significant taxes. Although the proposed 1% annual tax on net assets over $1 billion has not yet passed, it is scheduled for a vote on November 3. Meta's special committee views keeping Zuckerberg in California essential for the company's AI infrastructure and strategic direction.
Written with AI from the reporting · updated 10/22/2026
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- 1Unclassified fact stationOct 23, 00:00recorded Oct 23, 00:26single sourcerevised
Meta strikes deal to stop Zuckerberg leaving California over
Read original source ↗ BBC WorldReplay this moment in the explorerEvidence & revisions · 1 source records
- Subject：
- meta
- Action：
- agreed a deal to stop Zuckerberg from leaving California
- Object：
- Zuckerberg
- Occurred (fact side)：
- Oct 23, 00:00
- Published (valid side)：
- Oct 23, 00:16
- First seen (known side)：
- Oct 23, 00:26
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- BBC WorldRelated fact: single sourceSource report revisedMeta agrees deal allowing Zuckerberg to manage company while facing potential California billionaire tax
Report first recorded Oct 23, 00:26
Meta reached an agreement with Mark Zuckerberg, whose fortune is $226bn, allowing him to sell Meta shares without losing control of the California-based company if he faces a large tax bill from a proposed one-time 5% tax on state residents with a net worth over $1bn. This tax measure is yet to pass and is scheduled for a California resident vote on November 3. Meta's special committee deemed it critically important to keep Zuckerberg in a leadership role in California to manage the firm amid industry challenges, particularly in AI development.
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