Meta Platforms has agreed with CEO Mark Zuckerberg that he will remain a resident of California, or wherever Meta maintains its headquarters, for eight years after considering a move over Proposition 40. The ballot measure, which voters will consider next month, would impose a one-time 5% tax on California billionaires if approved. Zuckerberg, whose net worth is about $240 billion and who Forbes ranks as the world’s sixth-richest person, could use non-voting Class C shares to cover a potential multibillion-dollar tax bill without giving up voting control. He can immediately sell 20% of the Class C shares he receives, equivalent to 10% of his overall economic stake in Meta. The company plans to issue the new shares in January 2027 through an effective two-for-one split to fund acquisitions, retain top talent and support longer-term capital needs, including its artificial-intelligence expansion. Meta’s forecasts indicate it could need to raise hundreds of billions of dollars over several years, potentially beginning in fall 2026. A special board committee said keeping Zuckerberg in a leadership role at Meta’s California headquarters was critically important amid unprecedented AI-driven competition.