Meta Platforms announced on Wednesday that it has reached an agreement with Mark Zuckerberg to keep the chief executive resident of California for the next eight years. The arrangement comes as the company prepares for a potential ballot measure in the state that would impose a one‑time 5 % levy on billionaires, commonly referred to as the California wealth tax. Zuckerberg, who has indicated he might relocate if the proposal passes, will receive non‑voting shares that he can sell to cover any tax liability that may arise. The deal also includes the creation of a new class of non‑voting Class C common stock, to be issued in January 2027, which will give the company additional flexibility for acquisitions and talent retention while preserving Zuckerberg’s voting control. Meta said the board’s special committee deemed it “critically important” for Zuckerberg to remain in a leadership capacity at the company’s headquarters in California, especially given the rapid AI‑driven competition facing the industry. The company’s long‑term financial outlook projects a need to raise hundreds of billions of dollars beginning as early as fall 2026 to fund its AI initiatives.