Mark Zuckerberg has chosen to remain a California resident under an agreement with Meta involving the issuance of nonvoting Class C shares. The strategy, which comes amid a proposed one-time 5% tax on billionaires residing in the state, allows him to maintain his leadership at the company. It could also influence how other billionaires view Proposition 40. Market pricing suggests that the development may be reducing expectations for the tax’s passage, while California Secretary of State Shirley Weber and Governor Gavin Newsom could play pivotal roles.
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