Meta's New Stock Strategy

It's Benzinga, bringing Wall Street to Main Street. Meta created a new stock plan that would help CEO Mark Zuckerberg offset potential taxes under California's Proposition 40 while preserving his majority voting control. The ballot measure would impose a 5% tax on residents worth more than $1 billion. Zuckerberg, worth approximately $225 billion, committed to remaining in California for eight years unless unforeseen circumstances arise. Under the plan, Zuckerberg could immediately sell or transfer up to 20% of newly issued non-voting Class C shares to cover potential tax liabilities. Meta said the arrangement would preserve his voting power and support his continued leadership, particularly in artificial intelligence. Google co-founders Larry Page and Sergey Brin, former Google CEO Eric Schmidt, Stripe CEO Patrick Collison, venture investor Peter Thiel, and DoorDash CEO Tony Hsu are among tech leaders who have funded Opposition to Proposition 40. NVIDIA CEO Jensen Huang, however, said it would be a privilege to pay the tax. For all things money, visit Benzinga.com.