Mark Zuckerberg announced a new class of non-voting Class C shares for all Meta shareholders to finance artificial intelligence, acquisitions and employee compensation without diluting his 60.6% voting control. He will be able to sell 20% of the shares immediately, while the remaining 80% will be stapled to the sale or conversion of an equivalent number of voting shares. The move followed difficult negotiations with the committee, during which Zuckerberg rejected automatic conversion of his Class B shares, refused to give up his $1 salary and considered leaving California, where a wealth tax will be put to a vote on November 3, 2026. Meta reported quarterly revenue of $64.6 billion, while free cash flow turned negative at $2.1 billion and its 2026 capital expenditure forecast rose to $135 billion to $140 billion.
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