Meta creates non-voting Class C shares to fund AI buildout

Meta announced a new publicly listed non-voting Class C share class effective January 19, 2027, giving it a permanent equity channel to raise capital for AI infrastructure while preserving Mark Zuckerberg's roughly 60.6% voting control. Shares will be distributed as a one-for-one stock dividend; the stock fell nearly 7%, erasing about $124 billion in market value.

• Class C carries no votes; board approved it October 19 and shareholders consented October 20
• One-for-one dividend for Class A and B holders will roughly double total share count
• 80% of Zuckerberg's Class C shares are stapled to voting stock, fully released after 32 quarters
• Q3 2026 revenue was $64.60 billion, up 26%, while costs jumped 68% to $51.61 billion