Mark Zuckerberg threatened to leave California over wealth tax

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Meta Platforms reached an agreement with CEO Mark Zuckerberg to ensure he remains residing in California, even if a proposed billionaire wealth tax passes in November. To facilitate this, a board-approved plan allows for the creation of new shares that Zuckerberg can sell to cover potential tax obligations. Zuckerberg, whose net worth is approximately $239 billion, had previously threatened to leave the state. He has now agreed to stay for at least eight years.
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