Bloomberg Technology
Meta Offers Zuckerberg New Shares to Shield Him From Wealth Tax
Meta signed an agreement with Mark Zuckerberg to keep him living in the same jurisdiction as the company’s headquarters after the CEO said he was weighing leaving California if the state passes a wealth tax. Ed Ludlow has more. ——– Like this video? Subscribe to Bloomberg Tech on YouTube: Watch the latest full episodes…
@sammccool5480
October 22, 2026 at 11:27 am
Don’t let the door hit you on the way out buddy. If you’re so damn greedy that you don’t want to help your fellow citizens why don’t you just leave the Earth and go to Mars with muskie. What a piece of crap. Made billions off of the American public and refuses to pay his fair share.
@Emptycitybooks
October 22, 2026 at 12:12 pm
Proposition 40 is being marketed as a way to make billionaires pay for healthcare, but voters should look beyond the emotional appeal.
Prop. 40 would impose a one time 5% tax on the net worth of Californians who were billionaires on January 1, 2026, potentially generating tens of billions of dollars. About 90% of the revenue would go toward healthcare. (California Voter Information Guide)
The real question is what happens afterward.
California’s own Legislative Analyst warns that billionaires may respond by leaving the state or otherwise changing their finances, which could reduce the income tax revenue they currently generate. The state estimates that loss could be less than $1 billion per year. (California Voter Information Guide)
So the argument that this is simply “tax the rich and everyone else wins” is incomplete. California could collect a huge one time windfall while potentially losing some recurring revenue in future years.
And there is another concern: once a government establishes a new wealth tax, the debate over who should be taxed next does not necessarily end with billionaires. That does not mean Prop. 40 directly taxes middle class families or their retirement accounts. It does not. But it is reasonable to question whether creating a new wealth tax is the right long term solution to California’s healthcare and budget problems. (CalMatters)
Most importantly, voters should not be guilt tripped into supporting a tax simply by being told that opposing it means you do not care about healthcare.
You can care deeply about healthcare and still believe Prop. 40 is bad tax policy.
A good policy should be judged by its long term consequences, not just by who it promises to tax.
@953wes
October 22, 2026 at 1:04 pm
Land if the capitalist
@KittyVentura
October 22, 2026 at 5:46 pm
Tiny violins.. 🎻 🎻 🎻 🙄
@Vikings-say
October 22, 2026 at 5:52 pm
Meta is broke. They are giving mark a IOU 💵
@foxooo
October 22, 2026 at 7:13 pm
Great now make it federal and watch these billionaires cower.