Meta has set up a stock arrangement that would help Mark Zuckerberg pay a proposed California billionaires' tax, after he committed to stay in the state for eight years, CNBC reports, citing a company filing released with its quarterly results.
Proposition 40, on the ballot on 3 November, would levy a 5% tax on Californians worth more than $1bn. Zuckerberg's fortune is put at about $225bn. Under the plan, he would receive part of a new class of non-voting shares as a dividend from January and could sell up to a fifth of them to meet any tax bill without losing voting control.
Meta's filing said it sees him as central to its AI ambitions, including its work with Meta Superintelligence Labs. Several tech figures oppose the measure, though Nvidia's Jensen Huang has said paying it would be a privilege. Polls suggest the vote is close.
Source: CNBC
