Meta has struck a deal with its chief executive, Mark Zuckerberg, to protect him from the threat of a California wealth tax targeting billionaires, according to The Guardian's business coverage. The social media company behind Facebook, Instagram and WhatsApp disclosed the arrangement on Wednesday night.
According to The Guardian, the company said the deal would keep Zuckerberg living in California even if the state brings in a one-off billionaire tax. The report, written by Graeme Wearden, was published on Thursday morning.
The New York Times, in its DealBook coverage, described the agreement that Zuckerberg, Meta's chief executive, cut to stay in California as one that "underscores businesses’ fears about a major tax proposal." The report is available in full at The New York Times.
The byline on the Times report, as summarized, lists Andrew Ross Sorkin, Bernhard Warner, Sarah Kessler and Michael J. de la Merced, among others.
Both outlets place the arrangement in the context of a proposed California tax on billionaires. The Guardian described the levy as a one-off billionaire tax, while the Times described it as a major tax proposal. The summaries reviewed do not describe the terms of the arrangement beyond its effect on where Zuckerberg lives. They also do not state how the proposal would be structured or when it might take effect.
The two accounts do not conflict on the central fact. Further details were not available in the reports reviewed for this story.
Sources: The Guardian: Meta strikes deal with Zuckerberg to protect him from California wealth tax; The New York Times: Zuckerberg’s Big Deal to Stay in California.