Mark Zuckerberg...staggeringly generous young man.

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Parrotpaul
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Mark Zuckerberg...staggeringly generous young man.

Post by Parrotpaul » Tue Dec 01, 2015 4:43 pm

Facebook creator thirty one year old Mark Zuckerberg and his wife... brand new parents.... have donated 99% of their shares of the $45 billion dollar social media giant to a foundation with the purpose of finding ways of solving the world's problems... the Zuckerbergs have donated tens of millions of dollars to worthy causes... it's nice to see wealthy people giving back in such generous ways.

SAN FRANCISCO — Mark Zuckerberg, the co-founder and chief executive of Facebook, announced on Tuesday that he and his wife would give 99 percent of their Facebook shares “during our lives” — holdings currently worth $45 billion — to charitable purposes.

The pledge was made in an open letter to their newborn daughter, Max, who was born a week ago.

Mr. Zuckerberg and his wife, Dr. Priscilla Chan, said they were forming a new organization, the Chan Zuckerberg Initiative, to manage the money. “Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities,” they wrote.

In a securities filing, Facebook said Mr. Zuckerberg planned “to sell or gift no more than $1 billion of Facebook stock each year for the next three years.” He intends to retain his majority voting position in the company’s stock for the foreseeable future.

Earlier this week, Mr. Zuckerberg was one of the billionaires who signed on to the Breakthrough Energy Coalition, a group organized by the Microsoft co-founder Bill Gates to contribute toward a multibillion-dollar clean energy fund. The announcement coincided with a Paris summit meeting intended to forge a global accord to cut planet-warming emissions.

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http://www.nytimes.com/2015/12/02/techn ... .html?_r=0
"I think I may say that of all the men we meet with, nine parts of ten are what they are, good or evil, useful or not, by their education." John Locke

not4u13
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Re: Mark Zuckerberg...staggeringly generous young man.

Post by not4u13 » Tue Dec 01, 2015 6:42 pm

This is outstanding and a prime example of why increasing taxes on the wealthiest could actually do more harm than good.

Excited to see if others follow suit in the months and years to come.
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Troglodyte
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Re: Mark Zuckerberg...staggeringly generous young man.

Post by Troglodyte » Tue Dec 01, 2015 9:08 pm

A very generous act and hope for a better life for their kid... =D>
But speaking of taxes, isn't it tax write off time?? The government was gonna take most of it any way... :shock: I just hope that who ever got the donation uses it for that purpose and doesn't bury it in the general fund and accept IOUs from the politicians..

"Giving money to politicians is like giving a bottle of whiskey and keys to the car to a teenager."
Will Rogers..
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Omar Bongo
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Re: Mark Zuckerberg...staggeringly generous young man.

Post by Omar Bongo » Tue Dec 01, 2015 9:15 pm

not4u13 wrote:This is outstanding and a prime example of why increasing taxes on the wealthiest could actually do more harm than good.
Really? Maybe you could post a list of all the other superrich who are donating 99% of their fortunes to charity...
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Luca
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Re: Mark Zuckerberg...staggeringly generous young man.

Post by Luca » Tue Dec 01, 2015 10:19 pm

This is a little contradictory.

You said that they have already given 99% of their holdings to a foundation, but at the same time in a filing they said they would not sell or gift more than $1 billion of these assets per year for the next three years. These are mutually exclusive. It also said they would make the donation of 99% of the holdings "during their lifetimes", implying that they have not done it yet but that they intend to do so before they die.

This sounds like a non binding pledge to donate in the future, not a current divestment. If that's the case, the gesture is commendable but first let's see if it happens.................Luca

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Parrotpaul
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Re: Mark Zuckerberg...staggeringly generous young man.

Post by Parrotpaul » Wed Dec 02, 2015 5:00 am

my goof... edit that..." would give." :cheers:
"I think I may say that of all the men we meet with, nine parts of ten are what they are, good or evil, useful or not, by their education." John Locke

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Brooke
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Re: Mark Zuckerberg...staggeringly generous young man.

Post by Brooke » Wed Dec 02, 2015 1:05 pm

Zuckerberg is no patriot, he lobbies for foreign workers to come to the USA and take American jobs. If he wants to give foreigners jobs then he has enough money to hire them in their own countries.
Who in their right mind uses a welcome sign to mean people who would come into their home uninvited, paid by their neighbors who are using their illegal labor, overrun the neighborhood, and refuse to leave?

Reconquista Primero
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Re: Mark Zuckerberg...staggeringly generous young man.

Post by Reconquista Primero » Wed Dec 02, 2015 1:14 pm

Nobody is required to conform to your definition of what a patriot is. :roll:
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Re: Mark Zuckerberg...staggeringly generous young man.

Post by John Q. Public » Wed Dec 02, 2015 1:19 pm

But he's a very generous non-patriot, which is what the topic is about.
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Brooke
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Re: Mark Zuckerberg...staggeringly generous young man.

Post by Brooke » Wed Dec 02, 2015 2:13 pm

When someone directly undermines my country and fellow citizens - I say so RP. Zuckerberg has enough money to spread his generosity around the world without undermining his own country. You get that don't you?
Who in their right mind uses a welcome sign to mean people who would come into their home uninvited, paid by their neighbors who are using their illegal labor, overrun the neighborhood, and refuse to leave?

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Parrotpaul
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Re: Mark Zuckerberg...staggeringly generous young man.

Post by Parrotpaul » Wed Dec 02, 2015 2:15 pm

Lock it up. She won't quit.
"I think I may say that of all the men we meet with, nine parts of ten are what they are, good or evil, useful or not, by their education." John Locke

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