Meta wants more than the rank and file employees in the office. They want CEO Mark Zuckerberg to be there too – even if it comes at a high price.
The tech giant’s board said in a securities filing Wednesday that it would create a new class of non-voting shares to keep Zuckerberg in control and provide a financial incentive to continue living near its headquarters. It described his presence in the office as “very important” to its future success. Meta requires employees to log in at least three days a week starting in 2023.
Zuckerberg previously told the Board that it is considering moving in response to the proposed California billionaire tax. The stock deal will give the CEO $20 billion in “immediate liquidity” to cover taxes on the stock sale without losing control of Meta, the filing said.
The arrangement has particular weight at Meta, where Zuckerberg is leading the company’s AI push. It also speaks to the general belief that has led the return-to-office mandate: The best work happens when people – including senior leaders – are physically together.
Stay local
Cole Rubin, co-founder of sports tech company FanFeed, said CEOs and other executives send a message to employees by physically working alongside them.
“You wouldn’t question why you worked so long if you could see the same leader,” Rubin told Business Insider.
Having a boss in the office can also help companies move faster when unexpected opportunities arise, he said. Employees can enter the leader’s office, get immediate answers, and act before the moment.
“It’s not a scheduled call where the magic happens,” Rubin said. “When you have a decision maker there, it gives people a lot of freedom to be heard.”
The presence of leaders is especially important during a crisis, says Bill George, former chairman and CEO of Medtronic, a medical technology company. Together, executives can quickly assess what’s going on, gauge employee reactions, and decide on a course of action.
“We have to feel what’s going on emotionally, and we have to talk about it physically,” he said.
George also noted that RTO demands placed on workers can ring hollow if the CEO does not follow through. “You have to be there when your employees are there,” he said.
Distance trading
Meta wouldn’t be the first company to have a remote CEO if Zuckerberg had chosen to leave the Golden State.
Brian Niccol was living in California when he was named CEO of Starbucks Seattle in 2024. The coffee chain has agreed as part of the hiring package not to require him to move. Later, he built a 4,624-square-foot satellite office five minutes from his home so he could work with his colleagues, Business Insider reported. Niccol began buying property in Seattle.
Companies with remote CEOs aren’t as good on average as those with on-site leaders, according to a 2025 study by Boston College and Arizona State. They also have lower valuations and worse insider reviews, the findings show.
Meta’s decision to persuade Zuckerberg to stay in California was made by a special committee on the board, which said it was informed of the challenges facing the company when he was unable to participate in management during the pandemic.
The committee said it did not want Meta to “face the same challenges going forward.”