2026-10-22 · Los Angeles Times
🔮 - The deal lets Zuckerberg sell or transfer shares without losing his voting majority, preserving his control of Meta even if the measure passes.
- Proposition 40 could raise $100 billion for healthcare, supporters say, and Zuckerberg’s potential tax bill could reach roughly $12 billion.
Meta’s Chief Executive Mark Zuckerberg has wielded enormous power over the social media empire he built more than two decades ago, leading the California juggernaut through major scandals, scrutiny and technological shifts.
But the 42-year-old tech mogul considered leaving the state because he feared that a ballot measure to impose a one-time 5% tax on the assets of California billionaires could reduce the amount of control he has over Meta, a recent regulatory filing shows. mixed