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sebmellen 20 hours ago [-]
> said shareholders holding a majority of the company’s voting power have approved amendments
…doesn’t this mean Zuckerberg himself?
randyrand 3 hours ago [-]
He still has fiduciary duty, so presumably he was not alone.
CursedSilicon 18 hours ago [-]
Insert the "Obama awards Obama medal meme" here, of course.
God forbid his "high score" go down even marginally
17 hours ago [-]
vuldin 14 hours ago [-]
It sucks that Zuck doesn't pay the taxes himself, and that Meta did it for him. But this is way less worse than the likely alternative of him not paying any taxes given it current political situation.
ameliaquining 12 hours ago [-]
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).
metadat 18 hours ago [-]
Previous discussion:
Meta strikes deal with Zuckerberg to protect him from California wealth tax
This counts as paying the tax, so that’s a win no matter how they shuffled the bill around amongst themselves.
willio58 17 hours ago [-]
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.
treebeard901 15 hours ago [-]
How much of a tax would it take to make him move to Texas with the others??
zippyman55 13 hours ago [-]
I’m willing to pitch in.
bayarearefugee 16 hours ago [-]
As part of this deal he agreed to stay in California for 8 years.
So let's keep taxing that wealth year after year.
talon8635 15 hours ago [-]
How poorly is the law written that it allows for this?
laweijfmvo 20 hours ago [-]
can someone please explain how meta is paying the tax for him?
bigwheels 20 hours ago [-]
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.
winfredJa 14 hours ago [-]
looks like he is getting extra shares and not liquidate his existing shares
…doesn’t this mean Zuckerberg himself?
God forbid his "high score" go down even marginally
Meta strikes deal with Zuckerberg to protect him from California wealth tax
https://news.ycombinator.com/item?id=50193581
So let's keep taxing that wealth year after year.
> 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.