This wonky maneuver kept Mark Zuckerberg from fleeing a California billionaire tax
Summary
Meta created a new class of stock to help Mark Zuckerberg avoid a massive California tax bill that could have impacted his voting control. The maneuver occurred just days before the billionaire was scheduled to sell his Palo Alto residence.
Facing a potentially giant tax bill that could threaten his voting power, Zuckerberg was days away from listing his Palo Alto home when Meta agreed to create a new class of stock.
Source: Read the full story at MarketWatch.com - Top Stories
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