Zuckerberg to Stay in California Under Meta Stock Deal Amid Wealth Tax Concerns

The Meta chief executive weighed leaving the state over a potential wealth tax, but a stock overhaul and company agreement will keep him there for eight years.

Meta chief executive Mark Zuckerberg considered moving out of California due to concerns over proposed wealth taxes that could have cost him billions of dollars, The Information and Israeli newspaper Maariv reported.

Prompted by the tax concerns, the company restructured its stock holdings and reached an unusual agreement with its founder that secures his residence in the state for an additional eight years. Concurrently, Meta posted a surge in quarterly revenue that surpassed Wall Street projections.

Further details regarding the precise terms of the arrangement have not yet been released.