During the Quarter 3 financial report presentation on October 21, 2026, Meta Chief Financial Officer Susan Li officially confirmed plans to issue a new class of capital stock entirely without voting rights (non-voting stock). These new shares are expected to be widely distributed to all existing shareholders in the form of a stock dividend.

This financial move is designed to create a flexible public capital-raising instrument, support talent retention compensation, and facilitate mergers and acquisitions, as the race to invest in artificial intelligence models and infrastructure consumes massive resources.

Preserving the founder’s absolute control

The strategy of issuing non-voting stock helps Meta resolve the tricky dilemma of voting power dilution. According to Susan Li, the new structure allows the business to freely issue additional securities to raise capital in the market while keeping the controlling voting power of Class A and Class B shareholders completely intact.

This mechanism firmly reinforces the founder-led structure, ensuring that Chief Executive Officer Mark Zuckerberg continues to hold supreme authority over all of the group’s long-term strategic decisions without being swayed by short-term pressures from outside financial shareholders.

Meta’s Quarter 3 2026 business earnings report presents a mixed financial picture balancing revenue growth and cost pressures. Total revenue for the quarter reached $64 billion, marking a 26% increase compared to the same period last year and surpassing Wall Street expectations. However, total operating and capital costs also surged 68%, reflecting aggressive disbursements into data centers and AI hardware. The Reality Labs hardware and metaverse division alone is projected to record losses ranging between $18 billion and $19 billion for the full year.

Accelerating the rollout of AI agent products

In terms of commercial products, Meta’s massive expenditures are beginning to yield measurable results in the consumer market. Mark Zuckerberg shared that within just a month and a half of its launch, more than 10 million users in the US and Canada set up Meta Muse personal assistant agents, keeping the application consistently at the top of App Store rankings.

Meta’s model ecosystem has now expanded with several variants, including Muse Spark, Muse Glimmer, and Muse Wonder, alongside the open-weights version Muse Spark Open for Mac computer users.

Establishing a non-voting share class demonstrates that Meta is preparing for a long-distance race requiring hundreds of billions of dollars in capital investment over the coming decade. As the costs of power and processing chips grow increasingly steep, any company that builds a flexible financial framework to absorb cost pressures without disrupting corporate governance will hold a crucial survival advantage.