Meta 拟发行无投票权 C 类股为 AI 融资，2027 年 1 月生效
Meta 学 Alphabet 发无投票权股票，要为 AI 烧掉上千亿美元，但 Zuckerberg 一票都不会少让，讲透了资本和权力的平衡术。
据 Semafor 报道，Meta 计划创设无投票权的 C 类股，用于在不稀释 Mark Zuckerberg 控制权的前提下为 AI 业务融资。章程变更将于 2027 年 1 月 19 日生效，A 类和 B 类股东每持有 1 股可获 1 股 C 类股。该分配对 A 类股价的影响相当于 2 拆 1 的股票拆分，但不改变任何股东的投票权。C 类股还将用于向员工支付，Zuckerberg 的律师告诉特别委员会，有投票权的股票会把主权财富基金排除在买家之外。Alphabet 的类似结构今年已售出 850 亿美元股票，为 Meta 筹资 1350 亿至 1450 亿美元资本开支提供了模板。
Semafor: Meta is creating non-voting Class C shares so it can raise AI money without diluting Mark Zuckerberg’s control.
Holders will get 1 Class C share for each Class A or Class B share once the charter changes on January 19, 2027.
That dividend should move Class A’s price as a 2-for-1 split would, yet it leaves every holder’s voting power unchanged. The shares will also pay employees, and Zuckerberg’s lawyers told the special committee that voting stock would exclude sovereign financial institutions as buyers.
Alphabet’s similar structure let it sell $85B of stock this year, giving Meta a template for funding $135B to $145B of capital spending without costing Zuckerberg votes.