Mark Zuckerberg’s creative plan to pay California’s proposed billionaire tax without losing control of Meta
During Meta’s earnings call on Wednesday, the company revealed its board had approved a new class of non-voting stock, called Class C common stock. The shares give the holder an ownership stake but no vote on company decisions. This class takes effect in January. Meta says it will use the stock for capital raising, employee pay, and acquisitions — including its expensive push into AI — while maintaining the current voting structure that favors its founder and CEO, Mark Zuckerberg, who controls around 60% of the vote.