Meta creates a new stock class to keep Zuckerberg in control

Meta wants to continue its "founder-led model" — so it's creating a new stock class.

Bloomberg/Getty Images Meta established a new class of stock to ensure Mark Zuckerberg stayed as CEO.

The stock class will "continue the founder-led model that has driven the company," Meta said in its third-quarter earnings.

Zuckerberg has taken a leading position in Meta's AI era.

Meta's board wants Mark Zuckerberg to stick around.

The company announced a new category of non-voting Class C stock in its third-quarter earnings report.

It listed several reasons for creating the new class — one of which is to keep the CEO in control.

A Special Committee established by Meta's board determined that Zuckerberg was the best fit to lead the company into its future, and highlighted the CEO's creative vision and management abilities.

"The creation of the Class C common stock will continue the founder-led model that has driven the company's success since its inception," Meta said.

The stock class will also provide Meta the ability to finance its growth, the earnings report said.

Meta is spending big on AI and the data centers needed to power it.

The company reported $34.91 billion in third-quarter capital expenditures .

Meta's press release said the distribution would effectively amount to a two-for-one stock split for existing shareholders.

Susan Li, Meta's chief financial officer, said that the stock will be distributed to existing shareholders.