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Zuckerberg Considered Leaving California Over Billionaire Tax, Meta Says. Meta CEO Mark Zuckerberg considered moving his primary residence outside California if voters approve a proposed billionaire wealth tax, the company has revealed. The measure, due on California's November ballot, would impose a one-time 5% tax on the assets of billionaires. Meta said Zuckerberg warned a special committee that he was evaluating relocating, potentially leaving him with a multi-billion-dollar tax bill if he stayed. The company has proposed creating a new class of shares allowing Zuckerberg to sell up to half his economic stake in Meta without surrendering voting control. The arrangement would gradually ease restrictions on Zuckerberg selling shares over eight years if he remains a company leader based near Meta's California headquarters. Meta said keeping Zuckerberg close to its headquarters and Meta Superintelligence Labs was important as the company invests heavily in artificial intelligence. Several technology executives have spent millions opposing the proposed tax, while Nvidia CEO Jensen Huang has said he would not object to paying it. California Governor Gavin Newsom also opposes the measure, arguing a state-level wealth tax could drive wealthy residents away and damage the state's finances.
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