Zuckerberg Ties Meta Shares to California Residency Ahead of Billionaire Tax Vote

Mark Zuckerberg, founder and CEO of Meta Platforms, has agreed to remain in California for a minimum of eight more years in exchange for a new allocation of company shares. The arrangement was disclosed on Wednesday through a securities filing released alongside Meta's quarterly earnings report. Under the plan, Meta will create a new class of non-voting shares and grant every existing shareholder a one-time increase for each share held. Zuckerberg's stake exceeded 342 million Meta shares as of the end of 2025, the bulk of them super-voting shares that give him effective control of more than 60 per cent of the company, according to a filing tied to its annual report. The timing is tied to a November ballot measure in California, where voters will decide on a temporary tax on wealth held by billionaires residing in the state. Keeping Zuckerberg in California is partly a financial incentive designed to shield the CEO's company voting power from the tax's impact ahead of next month's vote. Meta is headquartered in California.