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Meta strikes deal to shield Zuckerberg from California wealth tax
Original: Meta strikes deal with Zuckerberg to protect him from California wealth tax
Meta has reached an agreement with Mark Zuckerberg designed to protect the company's co-founder from California's proposed wealth tax, the Guardian reports. The arrangement would restructure how Zuckerberg's holdings are treated so that a state levy on extreme wealth would not apply to him personally. The report is drawing attention to the growing clash between tech billionaires and state tax authorities.
Why now: News of a major tech company restructuring to shield its billionaire founder from a proposed state wealth tax is drawing wide debate over tax avoidance.
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