The current news cycle is only reporting the cap raise and attributing it to Meta’s AI CAPEX. Not his personal tax liability and the CA & NM AG lawsuits.
The Guardian hides these kind of stories deep in unless you search for it. Thanks for posting.
Under the deal, Zuckerberg will receive new shares that could be sold to potentially foot a multibillion-dollar tax bill in the event that California passes a one-off billionaire tax. In return, he is committed to remain a resident of the state, or wherever Meta maintains its base, for eight years
Californians will vote early next month on Proposition 40, a one-off 5% tax on the roughly 250 billionaires who live in the state.
His concern is (ostensibly) losing voting shares, and control of the company. I can sympathize with that to a degree, but I know for a fact he doesn’t know 10% of what’s happening in the company he supposedly runs. Consider though - Woz is still occasionally quoted as an authority figure on Apple. It’s hard to separate.
But he’s incomprehensibly wealthy and wants to keep 5%. If I had .001% of his net worth, it would be multigenerational wealth for my family. Fuck him and everyone around him
The current news cycle is only reporting the cap raise and attributing it to Meta’s AI CAPEX. Not his personal tax liability and the CA & NM AG lawsuits.
edit absent The Guardian https://www.theguardian.com/technology/2026/oct/22/meta-mark-zuckerberg-california-wealth-tax
That doesn’t make this the right community. It’s still just news
Welp, perhaps we all learned something today.
That’s what news means.
thanks Steve
Sure thing
Did Steve tell you that? What’s he got to do with it? What kind of rapping name is steve?
The Guardian hides these kind of stories deep in unless you search for it. Thanks for posting.
It’s insane that the mega rich cannot stand any decrease in wealth for any reason, and hence shield themselves like this.
Remember that some of these people can lose 99% of their wealth and still be billionaires.
His concern is (ostensibly) losing voting shares, and control of the company. I can sympathize with that to a degree, but I know for a fact he doesn’t know 10% of what’s happening in the company he supposedly runs. Consider though - Woz is still occasionally quoted as an authority figure on Apple. It’s hard to separate.
But he’s incomprehensibly wealthy and wants to keep 5%. If I had .001% of his net worth, it would be multigenerational wealth for my family. Fuck him and everyone around him
Meanwhile, infrastructure remains unbuilt.
They rationalize the AI spend on hardware they can’t power that will be obsolete by the time they get it online.
Make one think they want to tank the economy for some of that depression era labor exploitation for the next wave of build out…
Conveniently buried in nearly all the coverage aside from the SEC filing which alludes to raising liquidity for Zuckerberg (personally).