Mark Zuckerberg is considering leaving California if voters pass a one-time 5% tax on billionaires, per a $Meta Platforms(META.US) filing reported by Bloomberg

Prop 40 is on the November 3 ballot and would hit billionaires who lived in California on January 1, 2026, with the tax due in 2027

$Meta Platforms(META.US) says the tax could leave Zuckerberg with a multibillion-dollar bill, potentially forcing him to sell voting shares to pay it

That is the real reason behind tonight's new non-voting Class C stock, which $Meta Platforms(META.US) will hand out as a dividend to every shareholder starting January 19, 2027

In return, Zuckerberg signed an agreement to stay a resident of California, or wherever $Meta Platforms(META.US) is headquartered, for 8 years

Backers say Prop 40 raises $100 billion, while Stanford economists estimate about $30 billion and warn the state could end up $39 billion worse off

$Meta Platforms(META.US) tried a similar non-voting share plan back in 2016 and abandoned it in September 2017

The headline is about taxes, but the real story for shareholders is control. Zuckerberg keeps his voting power no matter what happens in November, and every $Meta Platforms(META.US) holder gets a new stack of shares with no say attached. When the next big AI spending bill comes due, those non-voting shares are the currency

Source: StockMarket.News