Semafor: Meta is creating non-voting Class C shares so it can raise AI money without diluting Mark Zuckerberg’s control.
Holders will get 1 Class C share for each Class A or Class B share once the charter changes on January 19, 2027.
That dividend should move Class A’s price as a 2-for-1 split would, yet it leaves every holder’s voting power unchanged.
The shares will also pay employees, and Zuckerberg’s lawyers told the special committee that voting stock would exclude sovereign financial institutions as buyers.
Alphabet’s similar structure let it sell $85B of stock this year, giving Meta a template for funding $135B to $145B of capital spending without costing Zuckerberg votes.