Meta disclosed this week that CEO Mark Zuckerberg could leave California if voters approve a billionaire wealth tax this November, prompting the company to offer him a financial incentive to stay.
\n\nPolitico reports that in a filing with the SEC, Meta said Zuckerberg told the company’s special committee he was weighing a move out of state. According to the filing, “Zuckerberg informed the Special Committee that he was evaluating relocating his primary residence outside California and that steps toward any such relocation, including any listing of his residential real estate in California on the market, would be public and inevitably noted and commented upon by Company employees and, accordingly, raise questions for management of the Company going forward.”
\n\nThe special committee decided it was worth keeping him close to home. Meta concluded that Zuckerberg’s continued leadership matters to the company as it spends heavily on AI and competes against rivals in the field. As the filing put it, “The goal is to keep Mr. Zuckerberg continuing to lead the Company from California and in close proximity to Meta Superintelligence Labs.”
\n\nSo Meta agreed to gradually lift restrictions over the next eight years on Zuckerberg’s ability to sell certain shares. The…
Original source: https://www.breitbart.com/economy/
