Developing story
Meta Share Offering and Zuckerberg California Tax Plan
Meta Share Offering and Zuckerberg California Tax Plan: 2 developments over 2 days, since 23 October 2026. Latest, 26 October 2026: Meta Platforms on Monday launched public offerings of about $35 billion in common stock and convertible preferred stock, which is preferred stock that can later be exchanged for common shares.
The story so far
Meta said on its earnings call on 23 October that its board had approved a new class of nonvoting shares, called Class C common stock, taking effect in January 2027 1. The tax at issue is California's Proposition 40, a one-time 5% levy on the net worth of several hundred billionaires who live primarily in the state 1.
On 26 October, Meta Platforms launched public offerings of about $35 billion in common stock and convertible preferred stock to help fund its AI expansion 2. Convertible preferred stock is preferred stock that can later be exchanged for common shares 2. The raise reflects how expensive Meta's AI infrastructure push has become 2.
On 27 October, Meta priced an upsized $25 billion sale of Class A common stock at $625 a share 3. Bloomberg reported that orders reached roughly five times the amount offered 3. Meta is raising the money to fund AI infrastructure spending 3.
Written automatically from the Oesnada stories in this timeline. Every number is checked against them. The numbers in brackets link to those stories.
Timeline
Also on our radarMeta's $25B Share Sale Oversubscribed 5x as It Seeks $98B for AI SpendingBloomberg
Meta priced an upsized $25 billion sale of Class A common stock at $625 a share, and Bloomberg reported that orders reached roughly five times the amount offered. Meta is raising the money to fund AI infrastructure spending. According to Bloomberg, more than half of the shares went to existing investors and long-only funds (investors that buy shares without betting against them), and the 15 largest buyers took about 70%. The offering is expected to close on Oct. 29. Alongside the common stock, Meta sold 250 million depositary shares at $50 each, representing interests in 6.50% Series A Mandatory Convertible Preferred Stock, a security that converts into common stock at a set point. Net proceeds are expected to be about $12.5 billion, and Bloomberg said demand exceeded the amount offered by a multiple. Meta has applied to list the shares on the Nasdaq Global Select Market under the symbol "METAM," and that offering is also expected to close on Oct. 29. Before pricing, Meta said Nvidia, Advanced Micro Devices and Broadcom had indicated non-binding interest in buying up to $5 billion of the Class A stock. Nvidia later said it would commit $3 billion as the two companies expand their partnership on Meta's Muse AI models and agents. The common stock sale is tied to forward sale agreements with Morgan Stanley Capital Services and Goldman Sachs & Co., and Meta said it does not expect to receive proceeds from the forward purchasers' sale of stock in the offering. The deals are part of a broader financing plan that also includes an at-the-market program, which lets a company sell shares gradually, of up to $60 billion in Class C common stock. Meta said that program is not expected to start until the first quarter of 2027, after the Class C stock begins trading.
Read at the source- CNBC
Meta Plans $95B Raise for AI Expansion, Including $35B Equity Offering
Meta Platforms on Monday launched public offerings of about $35 billion in common stock and convertible preferred stock, which is preferred stock that can later be exchanged for common shares.
- TechCrunch
Mark Zuckerberg's Plan to Pay California's Proposed Billionaire Tax Without
Meta's board has approved a new class of nonvoting shares, called Class C common stock, that takes effect in January 2027, the company said on its earnings call.
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Methodology and sources
Oesnada groups published stories into a developing story when a language model judges that they continue the same thread. The grouping is automatic and can be wrong. A thread gets a page once it has at least 3 developments spread over at least 2 different days. The one-line updates and the summary are written automatically from Oesnada stories only, and every number in them is checked against those stories.
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Oesnada, "Meta Share Offering and Zuckerberg California Tax Plan", https://oesnada.com/storylines/meta-share-offering-and-zuckerberg-california-tax-plan, accessed 27 October 2026.