[Zuckerberg and Meta Sign Eight-Year Residency Agreement to Address Proposed California Wealth Tax] According to a report by Jinse Finance on October 22, Meta Platforms (META.O) has signed an agreement with its CEO Mark Zuckerberg, requiring him to continue residing in the jurisdiction where the company headquarters is located for the next eight years. Previously, Zuckerberg stated that he would consider leaving California if the state passed a wealth tax. In a filing on Wednesday, Meta stated that Zuckerberg would "continue residing in California or any other jurisdiction where the company headquarters is located for the next eight years." Meta explained that Zuckerberg's consideration of leaving California stems from the proposed wealth tax, which could result in a tax bill amounting to billions of dollars and potentially force him to sell voting shares to cover the taxes. The company noted in the filing that this agreement includes issuing Class C shares to Zuckerberg, partly to prevent such a situation from occurring. Under the agreement, Zuckerberg is allowed to immediately sell 20% of the Class C shares he receives, equivalent to 10% of his total economic interest. This will provide him with liquidity to address the potential tax burden arising from California's Proposition 40. The proposal is set to be decided by California voters next month.