Meta launches new share class to help Zuckerberg cover proposed California billionaire tax without losing control, TechCrunch reports

Meta today launches a new class of shares designed in part to help CEO Mark Zuckerberg pay California’s proposed billionaire tax without giving up control of the company, TechCrunch reports. The timing matters because if voters approve the levy, it could trigger sizable recurring tax bills for California-based billionaires. By structuring the new class to preserve Zuckerberg’s voting power, Meta can address the founder’s liquidity needs without shifting corporate governance.

According to TechCrunch, the shares are intended to be sold without diluting Zuckerberg’s voting stake, effectively decoupling cash-raising from control at Meta. The approach underscores how founder-led tech giants may respond to state tax proposals while trying to maintain long-term decision-making authority. Investors will be watching for offering mechanics, any required regulatory filings, and the trajectory of California’s tax measure. [Developing. This article will be updated.]