Meta’s share deal with Zuckerberg aims to cover potential multibillion-dollar wealth tax bill: How it works

Meta has struck a deal with CEO Mark Zuckerberg to keep him in California for the next eight years, as he was weighing leaving the state over its proposed wealth tax on billionaires.

The agreement, disclosed in a securities filing on Wednesday, comes as California prepares to vote on Proposition 40, a proposed one-time 5% tax on billionaires’ wealth. Zuckerberg, whose net worth stands at $247 billion, had been considering leaving the state if the measure is approved.