Mark Zuckerberg Threatened to Leave California. Meta’s Board Cut Him a Deal

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A proposed billionaire tax had Mark Zuckerberg thinking about leaving California. Provisions around the 2-for-1 split of Meta Platforms’ stock are designed to keep him in the state.

The company said in a filing Wednesday that Zuckerberg, Meta’s META 0.47%increase; up pointing triangle chief executive officer, has agreed to maintain primary residence in the same state as the company’s headquarters for the next eight years, barring “material unforeseen circumstances.” Zuckerberg had told Meta board members he was evaluating whether to leave the state in response to a proposed first-of-its-kind wealth tax set to go before California voters on Nov. 3, according to the filing.

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