These Billionaire Backers Are Reportedly Behind Trump’s Ballroom Project

Meta struck an agreement with its billionaire CEO Mark Zuckerberg to keep him in California for the next eight years, according to an SEC filing, after he considered leaving the state over its proposed billionaire wealth tax that could have forced him to sell his shares in the company and weaken his voting control. In an SEC filing, Meta said Zuckerberg told a special committee of the company’s board that he was considering “relocating his primary residence outside California” because he would be liable for a “significant, multi-billion dollar tax” if voters in the state approve the wealth tax ballot measure in November. The billionaire was concerned that paying the proposed tax could force him to sell some of his supervoting Class B shares, potentially reducing his voting control in the company from about 60.6% to 53%, according to the filing. In a separate 8-K filing, Meta disclosed Zuckerberg had signed a “Founder Alignment Agreement” to remain a resident of California—or any jurisdiction where Meta maintains its corporate headquarters—while continuing to serve in a full-time leadership role. Under the agreement, Meta will create a new class of Class C non-voting shares, distributing one new share for every existing Class A or Class B share in January 2027, allowing the company to raise money without diluting the voting power of existing shareholders. Zuckerberg will initially be allowed to sell 20% of his newly allocated Class C shares, an additional 2.5% of his Class C shares will become eligible for unrestricted sale each quarter as long as he serves in his full-time leadership role. In the preliminary filing, Meta’s board committee argued that it was “critically important” to keep Zuckerberg in a leadership position near its California headquarters amid intensifying competition in AI. Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2026/10/22/meta-stock-split-deal-will-keep-mark-zuckerberg-in-california-amid-billionaire-tax-threat/ Learn more about your ad choices. Visit megaphone.fm/adchoices

SpaceX chief Elon Musk ordered a slowdown of military-grade Starlink satellite assets used by Ukraine in its war against Russia, The Wall Street Journal reported, citing unnamed U.S. officials who said Musk and President Donald Trump discussed the decision before it was made. Read the full story on Forbes: https://www.forbes.com/sites/antoniopequenoiv/2026/10/20/elon-musk-ordered-slowdown-on-military-starlink-assets-in-ukraine-report-says/ Learn more about your ad choices. Visit megaphone.fm/adchoices

President Donald Trump collected $333 million in private donations to pay for his ballroom project, with the largest donations coming from tech companies and two billionaires, according to a new report. Read the full story on Forbes: https://www.forbes.com/sites/saradorn/2026/10/15/these-billionaire-backers-are-reportedly-behind-trumps-ballroom-project/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Meta struck an agreement with its billionaire CEO Mark Zuckerberg to keep him in California for the next eight years, according to an SEC filing, after he considered leaving the state over its proposed billionaire wealth tax that could have forced him to sell his shares in the company and weaken his voting control. Read the full story on Forbes: https://www.forbes.com/sites/siladityaray/2026/10/22/meta-stock-split-deal-will-keep-mark-zuckerberg-in-california-amid-billionaire-tax-threat/ Learn more about your ad choices. Visit megaphone.fm/adchoices

A Different Take — Season 2 launches with the story of New Balance’s remarkable transformation from “dad shoe” to one of the hottest brands in sports and culture. Hosted by Linda Boff, this episode goes behind the strategy that changed how the world saw New Balance. Chris Davis, Chief Marketing Officer & Brand President of New Balance, and Matt Welty, Complex Associate Editor and longtime sneaker journalist, unpack the pivotal moments—from limited-edition collaborations and the rise of sneaker culture to New Balance’s decision to embrace its heritage rather than imitate its competitors. How do you make an “uncool” brand cool without losing what made it authentic in the first place? Welcome to Season 2 of A Different Take. 0:00 Intro & Background 2:56 The Reputation 6:17 The Turning Point 7:45 What Actually Changed? 12:58 Surprise: They Didn't Hide The Dad Shoe Learn more about your ad choices. Visit megaphone.fm/adchoices

Forbes Senior Editor Alan Ohnsman sat down with Forbes Talks to discuss the upcoming historic SpaceX initial public offering and why its financial windfall will primarily benefit the state of California despite the company's headquarters relocating to Texas. Ohnsman also discussed how the inclusion of underperforming assets like X and XAI impacts investor sentiment regarding SpaceX's $1.77 trillion valuation. Learn more about your ad choices. Visit megaphone.fm/adchoices

Senior Vice President of Bryson Gillette Jade Floyd sat down with Forbes to discuss her book, The Leadership Labyrinth, and the circuitous paths women take to reach the C-suite. Floyd also discussed the importance of "failing forward" to achieve multi-billion dollar success and the role of "friendtours" in building a sustainable professional community. 00:00 The Path To The C Suite 03:28 Balancing Wellness And High Performance Leadership 06:18 Learning To Fail Forward 10:57 Teaching The Next Generation Of Leaders To Pivot 14:20 Building Community Through Strategic 'Friendtours' 16:57 Navigating Business Power In An Uncertain World 19:25 The Impact Of AI On The Future Of Women In Business Learn more about your ad choices. Visit megaphone.fm/adchoices

Tesla’s biggest problem may no longer be Chinese competitors, slowing demand for its EVs or the still-theoretical payoff from robotaxis and humanoid robots.  It might be SpaceX. If Elon Musk’s rocket and satellite-internet company goes public at anything close to the rumored $1.75 trillion valuation, it will not just be one of the biggest IPOs in history. It will give Tesla investors tired of waiting for the CEO’s promises to materialize something they haven’t had in a while: a potentially bigger, more exciting way to invest in the Musk myth. Certainly, SpaceX, with its reliable and steady leadership under long-time president Gwynne Shotwell, is shaping up to be a shinier proxy — with fewer close competitors or awkward quarterly questions about exactly when Tesla can take on Waymo in self-driving tech or actually deliver its C-3PO-style robot. By Alan Ohnsman, Senior Editor Learn more about your ad choices. Visit megaphone.fm/adchoices

Follow ⁠Forbes Under30⁠ Recorded LIVE from the 2026 30 Under 30 Summit in Phoenix, AZ. Airtable democratized software by letting anyone build a database. When AI shock up software, founder Howie Liu relaunched Airtable as an AI-native app platform. The visionary founder and CEO shares inside lessons about AI-proofing your tech and the art of the pivot. Learn more about your ad choices. Visit megaphone.fm/adchoices

Frank Cooper, the Chief Marketing Officer at VISA, joins Forbes senior writer Jabari Young on The Enterprise Zone at Nasdaq MarketSite. In the discussion, Cooper talks about VISA's shift away from its partnership with the NFL, the future of marketing, and reflects on his career journey—from Motown Records to stints at BlackRock and overseeing Pepsi's mega deal with Beyoncé. Learn more about your ad choices. Visit megaphone.fm/adchoices