Mark Zuckerberg owns 13% of Meta but controls 61% of its votes; wealth tax implications

Meta Platforms CEO Mark Zuckerberg controls 61% of the company’s voting power despite owning just 13% of its shares, according to recent information. This control is facilitated through his Class B shares in Meta. As California considers a one-time wealth tax targeting billionaires, Zuckerberg is reportedly planning to create non-voting shares to address potential tax liabilities without diminishing his voting control. This development comes amid discussions on the financial impact of California’s proposed wealth tax, suggesting a potential increase in support for the initiative as it affects high-profile billionaires like Zuckerberg. The upcoming California election on November 3, 2026, will determine the fate of the one-time wealth tax on billionaires.

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