Meta approves Class C structure, strikes deal to retain Zuckerberg in California

Insert the "Obama awards Obama medal meme" here, of course.

God forbid his "high score" go down even marginally

He still has fiduciary duty, so presumably he was not alone.

He is in fact going to pay the taxes himself, in the sense that they will come out of his net worth, not Meta's market cap. The significance of this deal is that it allows him to retain voting control of Meta after doing so, which might not otherwise have been possible. The current HN submission title is wildly misleading and I'm asking the moderators to change it (it's not from the original source).

Yeah ultimately that money goes into the state to fund roads, education, important stuff instead of marks 15th yacht or some more land in Kauai.

I’m willing to pitch in.

TFA states:

> Under the deal, Zuckerberg will get non-voting shares he can sell to potentially foot a multi-billion-dollar tax bill in the event the proposal is approved, in exchange for a commitment to remain a resident of California, or wherever Meta maintains its headquarters, for eight years.

It allows him to liquidate part of META to pay off the state and retain his current 60%+ of voting shares.