Meta says Zuckerberg will stay in California after considering relocation

In a filing with the SEC on October 21, Meta disclosed that Zuckerberg had considered moving his primary residence out of California due to the state's proposed Proposition 40, which would impose a one-time 5% wealth tax on billionaires. Meta's independent special committee has reached an agreement with Zuckerberg requiring him to maintain residency in California or at Meta's headquarters for eight years after the agreement is signed, subject to continued leadership conditions, to ensure the company's sustained development. Meta will introduce a new class of shares starting in January 2027 to raise funds for AI system investments and incentivize Zuckerberg to remain as an executive.