Meta wants more than rank-and-file employees at the office. It wants CEO Mark Zuckerberg there, too \u2014 even if that comes at a hefty price.<\/p>\n
The tech giant’s board<\/a> said in a securities filing Wednesday that it would create a new class of non-voting stock in part to keep Zuckerberg in control and give him a financial incentive to continue living near its headquarters. It described his presence at the office as “critically important” to its future success. Meta has required employees to come in at least three days a week<\/a> since 2023.<\/p>\n Zuckerberg previously told the board he was considering moving<\/a> in response to a proposed California billionaire tax<\/a>. The stock deal would give the CEO $20 billion in “immediate liquidity” to cover the tax by selling stock without losing control of Meta, the filing said.<\/p>\n That arrangement carries particular weight at Meta, where Zuckerberg is leading the company’s AI push. It also speaks to a common belief that has driven return-to-office mandates: The best work happens when people \u2014 including senior leaders \u2014 are physically together.<\/p>\n Staying local<\/p>\n Cole Rubin, cofounder of sports technology company FanFeed, said CEOs and other execs are sending a message to employees by physically working alongside them.<\/p>\n “You’re not going to question why you’re working long hours if you actually can see the leader doing the same,” Rubin told Business Insider.<\/p>\n Having bosses in the office can also help a company move faster when unexpected opportunities arise, he said. Employees can walk into a leader’s office, get an immediate answer, and act before the moment passes.<\/p>\n “It’s not the scheduled calls where the magic happens,” Rubin said. “When you have the decision-maker there, it gives people a lot of freedom to be able to feel heard.”<\/p>\n A leader’s presence is especially important during crises, said Bill George, former chairman and CEO of Medtronic, a medical-technology company. Being together lets executives quickly assess what has happened, gauge employees’ reactions, and decide on a course of action.<\/p>\n Want more Business Insider in your news feed?<\/p>\n \n Add BI in Google so our reporting is easier to find when you\u2019re searching for what matters.\n <\/p>\n “We’ve got to really feel what’s going on emotionally, and we actually physically have to discuss it,” he said.<\/p>\n George also noted that RTO demands placed on workers can ring hollow if the CEO doesn’t follow them. “You’ve got to be there if your employees are there,” he said.<\/p>\n Long-distance tradeoffs<\/p>\n Meta wouldn’t have been the first company with a long-distance CEO<\/a> if Zuckerberg had opted to leave the Golden State.<\/p>\n