The Guardian

Meta agrees to help Mark Zuckerberg with possible California wealth tax

Meta has arranged to help chief executive Mark Zuckerberg cover a possible tax on billionaires in California. The agreement includes his commitment to remain in the state for eight years, even if a one-time 5% wealth tax is introduced. California is also home to Meta’s headquarters.

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Meta agrees to help Mark Zuckerberg with possible California wealth tax
Image source · The Guardian

What to know

  • 01

    California could impose a one-time 5% wealth tax on billionaires, and Meta has agreed to help Mark Zuckerberg cover the potential bill.

  • 02

    Mark Zuckerberg has agreed to continue living in California for eight years, even if the tax is introduced.

Why it matters

The arrangement links Meta’s assistance with a potential tax bill to its chief executive’s commitment to remain in the state where the company is headquartered.

Original sourceRead the source · The Guardianwww.theguardian.com

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