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CNBC: Meta made clear Zuckerberg will stay in California if wealth tax passes

CNBC reported Oct 22 that, with less than two weeks before the midterm elections, Meta made clear Mark Zuckerberg is staying in California if a proposed wealth tax passes.

MarketAlleys Research Desk

Published · 3 min read

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Illustration for: CNBC: Meta made clear Zuckerberg will stay in California if wealth tax passes
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What happened

CNBC reported on Oct 22, 20:37 UTC that Meta made clear Mark Zuckerberg is staying in California if the proposed wealth tax passes. The report noted the timing as occurring with less than two weeks before the midterm elections.

The item concerns Meta Platforms and Mark Zuckerberg and focuses on his residency in relation to a proposed billionaire wealth tax and the approaching midterm elections.

Stocks market context

As of Oct 22, 20:00 UTC, Finnhub shows the SPY ETF was $763.96 and fell 1.18% from the prior close; the QQQ ETF was $704.47 and fell 2.86% from the prior close; Meta Platforms was $648.85 and fell 6.98% from the prior close; Apple was $348.22 and rose 1.23% from the prior close.

Instrument Last Change Basis As of Source
S&P 500 (via SPY ETF) $763.96 -1.18% vs prior close Oct 22, 20:00 UTC Finnhub
Nasdaq 100 (via QQQ ETF) $704.47 -2.86% vs prior close Oct 22, 20:00 UTC Finnhub
NVIDIA $212.21 -4.40% vs prior close Oct 22, 20:00 UTC Finnhub
Apple $348.22 +1.23% vs prior close Oct 22, 20:00 UTC Finnhub
Microsoft $521.08 -2.23% vs prior close Oct 22, 20:00 UTC Finnhub
Amazon $250.38 -4.57% vs prior close Oct 22, 20:00 UTC Finnhub
Alphabet $324.22 -3.15% vs prior close Oct 22, 20:00 UTC Finnhub
Meta Platforms $648.85 -6.98% vs prior close Oct 22, 20:00 UTC Finnhub
Tesla $374.58 -3.08% vs prior close Oct 22, 20:00 UTC Finnhub
JPMorgan Chase $336.54 +0.40% vs prior close Oct 22, 20:00 UTC Finnhub

Yahoo published "Mark Zuckerberg threatened to leave California over wealth tax" and "Meta's Board Convinced Zuckerberg to Stay in California Despite its Wealth Tax. Here's What he Was Offered." Yahoo also published "Mark Zuckerberg makes deal with Meta to help him pay California billionaire tax, if it passes."

What to watch

No upcoming events directly relevant to this article were available for this edition.

  • Fri Oct 23 (before the open) — AXP Q3 2026 earnings · EPS estimate 4.53
  • Fri Oct 23 (before the open) — SLB Q3 2026 earnings · EPS estimate 0.62
  • Fri Oct 23 (before the open) — BAH Q2 2027 earnings · EPS estimate 1.51
  • Fri Oct 23 (before the open) — ALV Q3 2026 earnings · EPS estimate 2.34
  • Fri Oct 23 (before the open) — FCNCA Q3 2026 earnings · EPS estimate 47.40

Sources and data

  • cnbc.com (secondary source) — Meta’s deal to keep Zuckerberg in California adds fuel to wealth tax debate ahead of election
  • Yahoo (secondary source) — Mark Zuckerberg threatened to leave California over wealth tax
  • Finnhub (market data) — market data

Market data as of Oct 22, 20:00 UTC; report generated Oct 22, 21:40 UTC. All times are UTC. Each table row shows its own timestamp and provider.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.

Terms in this article

Sources & data

  1. cnbc.com (secondary, retrieved Oct 22, 2026, 09:42 PM UTC)
  2. Yahoo (secondary, retrieved Oct 22, 2026, 09:42 PM UTC)
  3. Finnhub (market-data, retrieved Oct 22, 2026, 09:42 PM UTC)

Market data as of Oct 22, 2026, 08:00 PM UTC.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools, built only from the cited sources and validated by rules described in our methodology. Spot an error? Request a correction.

Ask about this story

Questions are answered only from this article and the sources it cites.

MarketAlleys provides news and analysis for information only; it is not investment advice or a recommendation to buy or sell any security. Markets involve risk. Risk disclaimer.

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