Meta strikes deal to stop Mark Zuckerberg leaving California over billionaire tax
- Meta has agreed a deal with Mark Zuckerberg to stop the Facebook co-founder from leaving California after he threatened to move from the state because of a proposed tax on billionaires.
- The agreement allows Zuckerberg - reportedly one of the world's richest people - to sell shares in Meta without losing control of the Californian-based company if he needs to pay a large tax bill.
- The measure, which would impose a one-time 5% tax on state residents with a net worth of more than $1bn (£750m), is yet to pass.
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- Meta has agreed a deal with Mark Zuckerberg to stop the Facebook co-founder from leaving California after he threatened to move from the state because of a proposed tax on billionaires.
- The agreement allows Zuckerberg - reportedly one of the world's richest people - to sell shares in Meta without losing control of the Californian-based company if he needs to pay a large tax bill.
- The measure, which would impose a one-time 5% tax on state residents with a net worth of more than $1bn (£750m), is yet to pass.
Sources: BBC News