Meta CEO Mark Zuckerberg Will Stay in California
Mark Zuckerberg, Meta's CEO, will stay in California. He made a deal with Meta. He thought about leaving because of a new wealth tax for billionaires. This tax, Proposition 40, is five percent of a rich person's money. Meta will give Zuckerberg special shares. He can sell these shares to pay the tax. This lets him stay in California and keep control of Meta.
Mark Zuckerberg, the CEO of Meta, decided to stay in California. He made an agreement with Meta. This decision comes after he thought about leaving the state. California has a new tax idea. It is a proposed wealth tax for billionaires. This tax is called Proposition 40. It asks for five percent of a billionaire's net worth. This tax would apply to people who live in California on January 1, 2026.
Zuckerberg considered moving his home outside California. He wanted to avoid this possible tax. But now, he will remain a resident of California. He will live in the state. Meta has its main office there. He agreed to stay for eight years. This agreement is important for Meta. It helps the company keep its leader in its home state.
Under the agreement, Meta will give Zuckerberg special non-voting shares. He can sell these shares. This money can help him pay the potential tax bill. This way, he can cover the tax without losing control of Meta. He is the sixth-richest person in the world. His net worth is almost 250 billion dollars. A five percent tax means a very large amount of money for him. The voters will approve it in November. The tax will start in 2027. Payments can spread over five years. This deal helps Zuckerberg manage his finances and his role at Meta.
Take a position. Out loud, if you can.
Four ways to start. Pick one and try saying it before you scroll on.
Tip · Record yourself, use in a notebook, or practice with a language partner.
What is the name of the proposed tax?
Future with 'will'
We use 'will' to talk about future actions or decisions. It often expresses a prediction or a plan.
“The voters will approve it in November.”
What to know · A2
Try saying this aloud
Scenario: You are talking about future plans or predictions.
- 01“I will go to the store later.”
- 02“She will start a new job next month.”
- 03“It will rain tomorrow.”
Register tip · informal
🔑Key Phrases
This sentence introduces the main subject and the key outcome of the news story.
The student decided to study harder.
This explains the reason behind Zuckerberg's decision and the agreement.
Our city has a new park.
💬Discussion Questions
Open-ended questions to talk or write about — alone, with a partner, or in class.
- 1
Do you think it is fair to tax very rich people more?
Opinion - 2
What are some big companies in your country?
Personal - 3
If you were very rich, would you move to avoid taxes?
Personal
News sourced from: Fox Business →. LectoPress rewrites the facts as original graded-reader text for language learners.
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