[Zuckerberg and Meta sign an eight-year residency agreement to deal with California’s proposed wealth tax] On October 22, it was reported that Meta Platforms signed an agreement with the company’s CEO, Zuckerberg, requiring him to continue to reside in the jurisdiction where the company’s headquarters is located for the next eight years. Zuckerberg previously said he would consider leaving California if it passes a wealth tax. Meta said in a filing Wednesday that Zuckerberg "will continue to reside in California, or any other jurisdiction in which the company is headquartered, for the next eight years." Meta said Zuckerberg is considering leaving California because the state's proposed wealth tax could expose him to a multibillion-dollar tax bill and could force him to sell voting shares to pay the tax. The deal, which will issue Class C shares to Zuckerberg, is partly intended to avoid this scenario, the company said in the filing. Under the agreement, Zuckerberg can immediately sell 20% of the Class C shares he received, equivalent to 10% of his overall economic interests. This will provide him with liquidity to deal with the tax burden that may arise from California's Proposition 40. The proposal will go to California voters next month for a decision.