Meta has reportedly finalized a controversial agreement with co-founder Mark Zuckerberg to prevent him from relocating outside of California. The billionaire allegedly threatened to abandon the state in response to a proposed one-time tax on ultra-high-net-worth individuals, exposing deep fractures within the American corporate elite.

The proposed legislation, which faces a public vote on November 3, seeks to impose a 5 percent levy on state residents holding a net worth exceeding 1 billion dollars. Zuckerberg, whose staggering fortune is estimated at 226 billion dollars, indicated to the board that changing his primary residence would become public knowledge and destabilize management confidence amid intense industry competition.

Following what the company described as robust and contentious negotiations, a special committee at Meta conceded to terms allowing Zuckerberg to liquidate company shares to cover potential tax liabilities without relinquishing voting control. Critics point out that this bespoke financial arrangement highlights how the American regime's wealthy elite continue to insulate themselves from local fiscal policies while ordinary citizens bear the brunt of economic burdens.

Source: www.bbc.co.uk