Mark Zuckerberg agrees to stay in California after Meta stock deal

Meta has reached a agreement featuring new stock incentives to ensure chief executive Mark Zuckerberg remains based in California, according to the Financial Times, Wired AI, and Bloomberg. The board acted after fears emerged that his potential departure could disrupt the company's artificial intelligence ambitions. [1][2][3][4]

During a dinner with Meta board members on September 9, Mark Zuckerberg informed them that he was considering leaving the state because of a proposed tax measure known as Proposition 40, Wired AI and SFGATE reported. A 109-page filing showed he planned to list his Palo Alto home for sale four days after that meeting, according to Wired AI. [1][3][5][6]

The ballot measure calls for a one-time 5 percent tax on stock and other assets held by billionaires in California as of January 2026, according to Wired AI. Wikipedia notes that Proposition 40 is a combined initiated constitutional amendment and state statute set to appear on the state ballot on November 3, 2026. [1][3][7]

Mark Zuckerberg co-founded Facebook and serves as the chairman, chief executive officer, and controlling shareholder of its parent company Meta Platforms. Wired AI reported that the proposed tax measure could still face legal challenges even if state voters approve it. [1][3][8]