Meta strikes deal to protect Zuckerberg from California billionaire tax

On Wednesday, the tech giant said it would create a new class of non-voting shares for shareholders, allowing Mr Zuckerberg to sell his stock and settle a tax bill without diluting his control of the company.

Mr Zuckerberg owns 61pc of the Meta's voting shares, and without the new type of stock he may have been forced to sell them to pay the bill, thereby reducing his grip on the tech group.