Meta offers Zuckerberg incentive to stay in CA after he threatened to leave state over Prop 40

SAN FRANCISCO (KGO) -- Facebook founder and Meta CEO Mark Zuckerberg is among the billionaires who have said they would consider leaving California if a proposed tax is passed.

Meta announced this week that it decided to give Zuckerberg a financial incentive to continue leading the company from California for the next eight years.

RELATED: California billionaire tax: Here's everything you need to know about Proposition 40

Under the deal, Meta would create a new class of shares that would allow Zuckerberg to sell up to half of his economic stake in the company without giving up voting control.

The arrangement would allow Zuckerberg to reduce his economic stake while retaining control of the company.