Meta has agreed to a new deal with chief executive Mark Zuckerberg to prevent him from leaving California over a proposed state tax on billionaires.
The agreement gives Zuckerberg, whose wealth is estimated to exceed $200bn (£149bn), even more shares in Meta to make up for the fraction of his fortune he may lose if the tax wins voter approval in November.
The measure would impose a one-time 5% tax on residents with a net worth of more than $1bn. It would likely see the Facebook co-founder pay around $10bn in additional state taxes.
He secured the deal with a special committee of Meta after "robust" and "at several points, contentious" negotiations, according to a Wednesday financial disclosure.
California is home to most of the US's technology giants and there are around 225 billionaires who reside in the state, according to the Americans for Tax Fairness campaign group.