Chief executive agrees to remain in California for eight years even if the state brings in a one-off wealth tax

• Business live – latest updates

Meta has struck a deal with Mark Zuckerberg to help him foot a possible California wealth tax targeting billionaires.

The social media company behind Facebook, Instagram and WhatsApp revealed on Wednesday night that the arrangement would keep its chief executive living in California, where Meta’s headquarters are located.

Billionaire ex-mayor of New York City is focusing funds on House races to help Democrats retake majority in midterms

• US politics live – latest updates

The billionaire Michael Bloomberg will spend $80m to help Democratic candidates in the midterm elections, US media reported on Tuesday, a significant infusion of cash for a party that has recently struggled with fundraising as it seeks to win control of Congress.

The reported donations came as Donald Trump announced on Tuesday he intended to spend a total of $400m to aid Republican candidates, with $300m already disbursed.

Scott Kirby says wealth inequality is a ‘danger to society’ and calls for inheritance tax in recent interview

Scott Kirby, the CEO of United Airlines, is under scrutiny from conservative politicians and commentators for saying wealth inequality is a “danger to society” and calling for a national wealth and inheritance tax in a recent interview.

Talking to the New York Times, Kirby was asked about the growing public distrust of CEOs and whether he felt any responsibility to quell that distrust.

These yachts are highly popular with the ‘super-bourgeoisie’ – and getting bigger. Can anything be done to stop them destroying our seas?

Who knew? Apparently everyone did, apart from me: you don’t wear shoes on a superyacht. Now, about to step on to my first teak deck at the Monaco Yacht Show, I’ve got to take my trainers off, and I’m having a sock panic. Have they got holes? Do they even match? Do they smell?

To be honest, I’ve come dressed all wrong for Europe’s big annual superyacht trade exhibition. The code for men seems to be crisp and tucked in, blazers and chinos, navy and white, sculpted hair and designer sunnies. (I went colourful, loose, casual). For women, it’s something like Riviera elegance. Everyone – whether they’re Italian, French, English, German, American, exhibitors, buyers, brokers, charterers – seems to know each other. The international superyacht community seems to be a close-knit one, and I’m not part of it. Yet.