SACRAMENTO, Calif. -- SACRAMENTO, Calif. (AP) — Mark Zuckerberg made a deal with Meta's board to help him pay a proposed California tax on billionaires without losing his ownership stake in the company he founded, according to regulatory filings published this week.

If passed by voters in the Nov. 3 election, the measure would levy a one-time 5% tax on the wealth of Californians whose net worth exceeds $1 billion. Zuckerberg is the sixth-richest person in the world with a net worth estimated at more than $220 billion, according to Forbes. That would put his tax liability at more than $11 billion.

Actions announced by the tech giant on Wednesday will keep Zuckerberg as the majority owner of the company — and also give him the ability to sell some of a new class of non-voting shares “for any reason,” including to pay potential bills from the wealth tax .

The compromise came after Zuckerberg told the board he was considering selling his Palo Alto home last month in anticipation of the proposed tax.…