Zuckerberg, worth $239bn according to Forbes, told Meta he was considering moving his primary residence elsewhere because Prop 40 could expose him to a massive tax liability, potentially forcing him to sell voting shares to pay it. In response, Meta is creating a new class of non-voting shares via a two-for-one stock split for all existing shareholders. This will allow Zuckerberg to sell some of this new class C shares to pay a potential tax bill, without diluting his control of the company.
Not really true, for the fairly obvious reason that non voting shares are worth less and portfolio managers of whatever sort can vote on behalf of all the people they manage.
How scummy.
What the actual fuck is the point of non-voting shares apart from bailing out one massive douche?
Supposedly having those shares will entitle you to an equivalent share of the profits the next time they pay dividends
https://stockanalysis.com/stocks/meta/dividend/
Annual dividend: 0.33%
Meta investors just got defrauded.
Their value will still go up (or down) like any other stock. Voting only matters to people that have significant amounts of shares anyways.
Not really true, for the fairly obvious reason that non voting shares are worth less and portfolio managers of whatever sort can vote on behalf of all the people they manage.
Do you think the world is controlled by more than a few hundred influential people? ;)