r/technology

11h ago

u/marketrent

Zuckerberg told Meta directors he might leave California, where he could lose billions to a wealth tax. Meta answered with a new class of stock

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fortune.com Meta could have raised about $700 billion in equity capital before Zuckerberg lost majority control, a filing shows. The new share class will raise money without diluting him—and allow him to foot a potential bill in California.

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marketrent

11h ago

Edited 11h ago

Eye-glazing excerpts from article by Amanda Gerut:

[..] According to a Meta filing with the Securities & Exchange Commission, Zuckerberg wanted to be able to maintain his voting control, meet his pledges to fund the Chan Zuckerberg Initiative with his Meta stock, and be prepared to pay billions to the state of California if…