According to CoinMeta, [Zuckerberg signs an eight-year residency agreement with Meta to address California's proposed wealth tax] Financial News Agency reported on October 22nd. It is reported that Meta Platforms signed an agreement with the company's CEO, Zuckerberg, requiring him to continue residing in the jurisdiction where the company's headquarters is located for the next eight years. Previously, Zuckerberg stated that if California passed a wealth tax, he would consider leaving the state. Meta stated in a document on Wednesday that Zuckerberg "will continue to reside in California or any other jurisdiction where the company's headquarters is located for the next eight years." Meta mentioned that Zuckerberg is considering leaving California because the proposed wealth tax could result in a tax bill of several billion dollars and may force him to sell his voting shares to pay the taxes. The company stated in the document that this transaction will issue Class C shares to Zuckerberg, with one of the purposes being to avoid such a situation. Under the agreement, Zuckerberg can immediately sell 20% of the Class C shares received, which is equivalent to 10% of his overall economic interests. This will provide him with liquidity to deal with the potential tax burden arising from California Proposition 40 (Proposition 40), which will be put to a vote by California voters next month.