This is just current news.
Not "Today, I learned" material.
Should be a 10year rule.
As in "This has been a thing for a decade, but I just learned about it now."
this post was submitted on 22 Oct 2026
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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
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.
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).
How is it called when people are technically correct but still make a fool of themselves because it shows that they can't grasp intent?
lol
If you have a Facebook account, you support this piece of shit. No excuses. Deactivate that shit.
If you use facebook, instagram, google or any of their services, a browser that is built off of chromium, a search engine that is just a google clone, use tiktok, buy nestle products, shop at target, jcpenny, walmart, fredmeyer; you're supporting the big bad billionaires. Stop it, no excuses.
Use the fediverse for everything, use startpage or duckduckgo, use firefox or a fork, make your own clothes and fire your own kitchen ware from clay, bike everywhere, and grow your own food and go vegetarian/vegan.
No, you don't want to do all that? Well you're a bad person I guess. I understand the sentiment, but you gotta market the change better or you just fall into the chorus of "you're bad unless you do what I'm doing".
It may not be possible to do ALL those things, but even cutting back wherever possible can make a difference. If these companies had a 10% annual dip, it would be devastating to them. It would throw them into chaos, C-Suiters would lose jobs, major changes would happen.
We might not be able to end them, but we can definitely hurt them, badly.
Oh I agree with you, and I also agree with Pratai. I personally am actively trying to push myself toward pretty much everything I listed specifically to show the people around me that it can be done and without too much difficulty.
I have also watched, and experienced first hand that telling people they're bad even by inference for not doing these things puts people into defensive mode and they just stop listening. They feel like they have to defend themselves, so that's what they do instead. In fact, it makes it more difficult to convince them later because their first impression of the idea is associated with an attack on their identity.
In sales, you do not ever tell the customer they're stupid, that they're morally wrong, that they are impoverished idiots and that's why they should buy your product even if that is all true and the product would literally change all that. You tell them about the problems that they have, and you build it up, and then you give them one singular line that suggests that your product could fix those problems but not everyone can have this product(because it requires work on their part, or it only works within a specific ecosystem).
Instead of "If you have a Facebook account, you support this piece of shit", maybe "Wow, looks like Facebook and its management are doing some immoral stuff, and wouldn't you know it they've been doing stuff like this for a while. I know that you are an upright moral person, so here are some alternatives to consider. Me and everyone else who are seeing this go down are using this specific alternative. The catch is that it is decentralized its up to us to make it the way we want it, are you free Saturday? Neat, I'll swing by in the afternoon and help you get set up"
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potentially forcing him to sell voting shares to pay it
...as though it's some huge fucking life-changing burden on him
He has bankers he can borrow from and could quite possible purchase more voting shares to maintain his majority. Fuck Zuck.
His $80B bet on the Metaverse was so wrong for so long how can he have any confidence in his decisions let alone ask investors to let him continue to lead the company?
They’re non-voting shares that essentially double the float (total number of shares issued). This is just for him as the board made the decision not shareholders. This could quite possibly be a golden parachute given the record highs of METAs credit default swaps (CDS). Bond market basically thinks META will default. Funny thing is the stock price dropped 8% but if the float was double that math would cut and devalue/dilute existing shares & price thereof significantly more. Granted nothing material occurs for 89 more days. Should prove to be an interesting shit show to say the least.
Zuck, probably: " I don't know why, they trust me. Dumbfucks"
I wish I could care about the poor shareholders with their 401ks, but get in line. the amount of damage this company has done to countless of people has created a long line up before anyone who should complain about their stock options.
In the US, 401Ks are pretty much your only retirement option now, no? Private pensions are almost nonexistent and there's no national pension plan that I've heard of... state plans?
Bold of you to assume we can afford retirement, ever?
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That's Epstein style accounting right?
Won't somebody think of the shareholders?!
a company cannot make new stock without following precedures including disclosure. It should not be legal to use company funds to pay a private bill. even in the current situation im not sure how he could get away with something like this.
The SEC isn't what it used to be, that's for sure.
he will in 90 days.
They are doing a 2 for 1 split where everyone gets half voting shares half non voting shares. No one is being fleeced. Everyone still has the same share value and voting power from the split. There is no dilution.
Well there is, only for new buyers of the c class shares. Idk why people are downvoting you. You're right.
Everyone keeps the A class shares, and A class share count doesn't change therefore voting power per shareholder doesn't change.
But, what zuck is still doing, is trying to make sure nobody gets more voting power when buying his new shares.
He's trying to make sure he doesnt lose control of his company to pay a forced tax bill on unrealized gains. That doesn't seem unreasonable to me even if others dont like it.
If this passes it probably won't be the last either which would have further jeopardized things. Now he has money for future things too.
Edit: Zuck has 60% of the company. Do this a couple times and he loses his company. I get wanting to tax him, but taxing him and taking his company are two different things.
...on unrealized gains...
I'll be willing to accept that they are unrealized gains once they can no longer used as collateral to secure loans or used to calculate wealth. Until then they have value and should be taxed either when given (which is different than bought) or as an annual wealth tax.
Seems like that wasn't argued, just a maneuver to preserve the control facet of the shares even while surrendering some of the financial value could be seen as acceptable...
Wealth tax is a property tax, and just like I am forced to pay tax based on a presumed amount I could sell my house for, it can absolutely make sense to do the same for stocks. But I can totally accept that whatever that is, it shouldn't mean someone must cede control of a company based merely on a tax burden.
Of course, that said, these 'too big' companies arguably have too much public interest broadly to be focused in so few people, but that's a separate discussion than the taxation part.
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I'd be fine if they took him below 50% control. Companies that large should be required to be owned by many multiples of the number of people who currently own them and anyone seeking to remain on top of such a thing should be dancing for their many masters daily.
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