Mark Zuckerberg secures his position as dictator for life at Meta
The social media company is creating a new stock category that allows company founder Mark Zuckerberg to sell Meta shares without losing his absolute control.
Meta, led by Mark Zuckerberg, has created a new stock category that allows him to sell shares without losing control of the company. This move enables Zuckerberg to address a financial issue and potentially pay a massive tax bill if California voters approve a one-time tax on super-rich individuals. The new stock category, Class-C shares without voting rights, will be distributed to all shareholders but primarily benefits Zuckerberg.
Meta is valued at approximately $1.64 trillion, and Zuckerberg maintains his majority control through special voting rights shares.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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