12-01-2015, 06:56 PM
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#1
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Looooooooooooooch
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Mark Zuckerberg Will Donate 99% of Facebook Shares
Quote:
He said they are donating their fortune to the Chan Zuckerberg Initiative because they want to make the world a better place for Max to grow up in.
Mr Zuckerberg said the donation currently amounts to $45bn (£30bn). Max was born last week, but the couple only made the news of her birth public on Tuesday.
In his letter Mr Zuckerberg said the aim of the Chan Zuckerberg Initiative is "to advance human potential and promote equality for all children in the next generation".
"Many of the greatest opportunities for your generation will come from giving everyone access to the internet," Mr Zuckerberg wrote to his daughter.
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http://www.bbc.com/news/world-us-canada-34978249
Bill and Melinda Junior basically haha. Good on him, it's hard to be negative about this whether you're a Facebook fan or not.
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12-01-2015, 07:07 PM
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#2
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Franchise Player
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That is one heck of a vague statement of purpose for a charitable organization. "Do Good Stuff! For, like, the kids!"
__________________
"The great promise of the Internet was that more information would automatically yield better decisions. The great disappointment is that more information actually yields more possibilities to confirm what you already believed anyway." - Brian Eno
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12-01-2015, 07:26 PM
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#3
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Looooooooooooooch
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Yeah but atleast he's thinking of the children?
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12-01-2015, 08:02 PM
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#4
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broke the first rule
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Money for people
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12-01-2015, 08:11 PM
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#5
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First Line Centre
Join Date: Jul 2008
Location: Peterborough, ON
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Quote:
Originally Posted by calf
Money for people
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It's the human fund!
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12-01-2015, 10:45 PM
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#6
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Franchise Player
Join Date: Oct 2013
Location: Nanaimo
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Someone finally listened to Helan Lovejoy.
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12-01-2015, 11:02 PM
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#7
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Lifetime Suspension
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Excuse me if I am slightly cynical here.
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12-01-2015, 11:03 PM
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#8
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Celebrated Square Root Day
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You're excused.
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12-01-2015, 11:29 PM
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#9
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Franchise Player
Join Date: Feb 2007
Location: A small painted room
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Wondering if they need nonprofit administrators for said fund!
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12-01-2015, 11:40 PM
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#10
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First Line Centre
Join Date: Jul 2015
Location: Victoria, BC
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I need my mortgage paid off, for my kid.
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12-01-2015, 11:56 PM
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#11
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Franchise Player
Join Date: Feb 2010
Location: Park Hyatt Tokyo
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Tax evasion
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12-01-2015, 11:57 PM
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#12
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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So...hes going to build OASIS?
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
The World Ends when you're dead. Until then, you've got more punishment in store. - Flames Fans
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12-02-2015, 12:20 AM
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#13
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Scoring Winger
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I'm more impressed that his son Max can already read.
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12-02-2015, 12:34 AM
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#14
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Franchise Player
Join Date: Oct 2001
Location: Clinching Party
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This guy just said he's going donate billions of dollars towards curing disease, educating people, and feeding children.
I know people don't like facebook and bla bla bla, but how is this a bad thing? The reaction so far in this thread is almost unanimously negative.
Even if he does get some sort of tax break out of it (I have no idea if he will, but I assume those who suggest that he will can tell us the tax implications of funding a 50 billion dollar charitable foundation), so what?
I got tax receipt in my inbox today because I ponied up 40 bucks to a guy at work who just shaved off a sleazy moustache. Will people roll their eyes at my greediness when I include that on my tax return?
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12-02-2015, 12:42 AM
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#15
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Powerplay Quarterback
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Correct me if im wrong. Isn't the dollar value of a donation always greater than the tax break? And dont companies also do it for the good will they receive?
In this case. It just seems like a genuine donation. Dont think FB really needs any good will. Good on Zuckerberg but even better for the children.
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12-02-2015, 12:49 AM
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#16
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Scoring Winger
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Quote:
Originally Posted by RougeUnderoos
This guy just said he's going donate billions of dollars towards curing disease, educating people, and feeding children.
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Simply turning Facebook off would accomplish all that.
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12-02-2015, 01:08 AM
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#17
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God of Hating Twitter
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Jeesh, why the negative reaction, Bill Gates, Warren Buffet and a whole host of billionares have joined the call to donate over 90% of their wealth to all kinds of great causes to help people around the world.
Can't we just say, great, we need more people like that in this world.
__________________
Allskonar fyrir Aumingja!!
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12-02-2015, 04:13 AM
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#18
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Franchise Player
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The only structuring for a tax break is to let the government get less on inheritance tax then they would.
As someone who doesn't even have facebook, and is against charitable donations 99% of the time, this is the .01% running their own non government charities and having the best chance at actually making a difference.
Between the Gates, Buffett, and Zucks, we may see more real chance then any charitable organization in history.
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12-02-2015, 06:18 AM
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#19
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broke the first rule
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Quote:
Originally Posted by topfiverecords
Tax evasion
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Rich people don't give away 99% of their wealth to save on taxes.
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12-02-2015, 06:27 AM
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#20
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First Line Centre
Join Date: Apr 2009
Location: Calgary.
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Quote:
Originally Posted by blueski
I'm more impressed that his son daughter Max can already read.
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FYP. 
Honestly, I think this is terrific.
The initiative that the Gates' started has gained some real heavy hitters and could literally add hundreds of billions of dollars into philanthropic ventures.
Whether those initiatives are for advancing access to technology, providing meals for low income school children, or simply buying a crap-load of mosquito nets to help eliminate malaria, I'm all for it.
Every dollar is welcome, regardless of where it goes or whether or not there's an ulterior motive behind the giving. Who cares - generosity is always welcome.
__________________
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