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Mark Zuckerberg considered leaving California over the billionaire tax

All Content from Business Insider·Charles Rollet,Kelsey Vlamis·20 days ago
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Meta CEO Mark Zuckerberg. Finn Gomez/Getty Images

Meta CEO Mark Zuckerberg considered moving out of California because of its proposed billionaire tax, Meta disclosed in a new SEC filing on Wednesday.

Next month, Californians will vote on Proposition 40, a one-time tax on the assets of the state's billionaires.

The filing said that Zuckerberg told a special committee formed by Meta that he was considering moving.

In response, the committee concluded that it was "critically important" for Zuckerberg to keep running Meta close to its Silicon Valley headquarters — particularly to its AI division, Meta Superintelligence Labs.

The filing said the committee got Zuckerberg to agree to remain in California or any other jurisdiction where Meta has its corporate headquarters for eight years, barring unforeseen circumstances.

As part of its efforts to ensure he can remain in charge as it raises more cash for its AI initiatives, the company is granting the Meta CEO a new stock class.

The shares would give…

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