Meta files reveal need to raise hundreds of billions from fall 2026; new nonvoting Class C shares
ivan_bezdomny · x · 2026-10-22
Per an SEC filing, Meta management told Moelis advisers and special committee counsel that all three long-term forecasts shown to the board in May indicated a "need to raise hundreds of billions of dollars over several years beginning as early as fall 2026." The new nonvoting Class C stock (effective Jan 19, 2027) distributes one share per A/B share — effectively a 2-for-1 split — giving Meta a currency to fund its AI buildout, acquisitions and employee pay without diluting Zuckerberg's 61% voting control. It also lets Zuckerberg sell stock to cover a potential multibillion-dollar California Prop 40 wealth-tax bill, in exchange for an 8-year residency commitment. The CFO said no specific financing plans, but Meta raised its 2026 capex floor to $135B–$145B; shares fell from an after-hours high of $748.80 to $712.40.
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