The social media founder had threatened to relocate because of a proposed one-time 5% tax on state residents with a net worth exceeding $1bn. Californian voters will decide on the fate of this tax on 3 November.
Zuckerberg, who possesses a $226bn fortune, is one of approximately 225 billionaires living in California. A special committee at Meta secured the deal with Zuckerberg.
The arrangement permits Zuckerberg to sell shares in Meta while maintaining his control over the firm. Meta stated the share deal was appropriate to ensure Zuckerberg "remains working closely" with the company's AI at its headquarters.
The company noted that "talent and leadership have been crucial to our growth, strategy, and stability since our inception, and the special committee wants that to continue." Zuckerberg argued that moving would be public and inevitably noted and commented upon by company employees.
He added that such a move would raise questions for management of the company going forward. The tech giant previously faced a $25bn fine for providing false information regarding user data privacy.
