Meta strikes deal to keep Mark Zuckerberg in California after wealth tax concerns

Meta Platforms has struck a deal with Mark Zuckerberg to keep him living in California after the CEO warned he was considering leaving the state that houses the company’s headquarters if voters pass a wealth tax proposal next month.

Under the deal, Zuckerberg will get non-voting shares he can sell to potentially foot a multi-billion-dollar tax bill in the event the proposal is approved, in exchange for a commitment to remain a resident of California, or wherever Meta maintains its headquarters, for eight years, Meta said on Wednesday.