California wealth tax: Meta shields its CEO
India, Oct. 23 -- Meta is taking no chances that Mark Zuckerberg ends up living far away from the company he co-founded. After Zuckerberg warned that a proposed California wealth tax could push him to leave the state, Meta struck an unusual bargain with its billionaire CEO. The company is giving him non-voting shares that he can sell to cover a multibillion-dollar tax bill without relinquishing control of Meta. In return, Zuckerberg has committed to stay in California for the next eight years while he remains its full-time leader. Billionaires such as Sergey Brin and David Sacks have taken steps to leave, fuelling criticism that the one-time 5% levy, which will be put to a vote in November, would drive away some of the state's wealthiest individuals.13...
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