Mark Zuckerberg threatens to leave California over 5% billionaire tax, Meta creates new Class C shares to help him stay

Economic Times - Oct 22, 2026

Mark Zuckerberg has threatened to leave California if the state introduces a proposed 5% billionaire wealth tax. In response, Meta has approved a new class of nonvoting Class C shares that would allow the Facebook co-founder to raise money to pay a potential tax bill without losing control of the company. The new stock arrangement also comes with an eight-year commitment from Zuckerberg to remain a California resident.

Read full article

More News

The Diva Today

Hottest news updates in Hollywood. Discover more on your favorite celebrities and get closer to them only here in The Diva Today.



Copyright © 2015 - 2026 The Diva Today. All Rights Reserved.