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Thursday, October 22, 2026Updated 06:04 UTC

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Zuckerberg told Meta directors he might leave California, where he could lose billions to a wealth tax. Meta answered with a new class of stock

Source: Fortune · Oct 21, 2026 23:59 UTC

Trading floor of the New York Stock Exchange with banks of monitors — File photo Carol M. Highsmith / Library of Congress · Public domain · Source

The Quick Take

Meta could have raised about $700 billion in equity capital before Zuckerberg lost majority control, a filing shows. The new share class will raise money without diluting him—and allow him to foot a potential bill in California.

Read the full story at Fortune

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