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Mark Zuckerberg Pledges To Donate $45B Of Facebook Shares In Letter To Daughter

by TLTheLiberator
36 replies
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Facebook founder Mark Zuckerberg and his wife Priscilla Chan pledged Tuesday to give away 99 percent of their shares in the social networking giant - currently valued around $45 billion - in a letter to the couple's newborn daughter, Max.


Mark Zuckerberg Pledges To Donate $45B Of Facebook Shares In Letter To Daughter
  • Profile picture of the author butters
    Well her yearly profits are looking good, took us all years to learn how to make money, she pooped and cries and made 45 billion
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  • Profile picture of the author joe golfer
    Good for them. I know many charities can use the help. Here's the letter.

    https://www.facebook.com/notes/mark-...53375081581634
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  • Profile picture of the author yukon
    Banned
    It's spread out over Marks lifetime which means he'll bank $900 billion on the profit that $45 billion earns.

    It's like saying I'll give you $25 If you give me $500 in profit.

    He's not giving anything away, you can bet money he has a team of financial advisers just like Warren Buffett & Bill Gates making sure their money keeps making a profit.
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    • Profile picture of the author TLTheLiberator
      Originally Posted by yukon View Post

      It's spread out over Marks lifetime which means he'll bank $900 billion on the profit that $45 billion earns.

      It's like saying I'll give you $25 If you give me $500 in profit.

      He's not giving anything away, you can bet money he has a team of financial advisers just like Warren Buffett & Bill Gates making sure their money keeps making a profit.
      You're not saying that no one outside of Zuckerberg is ever going to get anything from this - are you??
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      • Profile picture of the author yukon
        Banned
        Originally Posted by TLTheLiberator View Post

        You're not saying that no one outside of Zuckerberg is ever going to get anything from this - are you??

        He was smart enough not to promise money to anyone specific. Surely you don't think that was an oversight? His financial team isn't stupid.

        These guys (Zuckerberg, Buffett, Gates) are 100% about the paycheck.

        Don't bother with the building a school in Africa, clean water for a village stories. I have Google News.
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        • Profile picture of the author TLTheLiberator
          Originally Posted by yukon View Post

          He was smart enough not to promise money to anyone specific. Surely you don't think that was an oversight? His financial team isn't stupid.

          These guys (Zuckerberg, Buffett, Gates) are 100% about the paycheck.

          Don't bother with the building a school in Africa, clean water for a village stories. I have Google News.


          I'm sure this will be closely monitored by the many sceptics like yourself and only time will tell if he follows through on this pledge.
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          • Profile picture of the author yukon
            Banned
            Originally Posted by TLTheLiberator View Post

            I'm sure this will be closely monitored by the many sceptics like yourself and only time will tell if he follows through on this pledge.
            Notice Gates created his own foundation. They've got it it all figured out.


            Unlike a charitable foundation, a private foundation does not generally solicit funds from the public. And a private foundation does not have the legal requirements and reporting responsibilities of a registered, non-profit or charitable foundation.

            I wouldn't be surprised If it's more like a 3rd world tax shelter.

            Gates is also a personal buddy of Buffett who has spent his entire life as a money grubber. I have no doubts they're in cahoots with a money scheme that makes Bernie Madoff look like a pick pocket at a flea market.
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            • Profile picture of the author TLTheLiberator
              Originally Posted by yukon View Post

              Notice Gates created his own foundation. They've got it it all figured out.





              I wouldn't be surprised If it's more like a 3rd world tax shelter.

              Gates is also a personal buddy of Buffett who has spent his entire life as a money grubber. I have no doubts they're in cahoots with a money scheme that makes Bernie Madoff look like a pick pocket at a flea market.

              If you say so Yukon.
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              • Profile picture of the author yukon
                Banned
                Originally Posted by TLTheLiberator View Post

                If you say so Yukon.
                Surely you don't think the worlds 3rd richest person (Buffett) is going to give away his money while driving a 2006 Cadillac with a Kelley Blue Book value worth a whopping $6,000. Those are not traits of philanthropist, those are traits of a person that sees dollar signs in everything he does. There's a difference between frugal and obsession.
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        • Profile picture of the author Claude Whitacre
          Originally Posted by yukon View Post

          He was smart enough not to promise money to anyone specific. Surely you don't think that was an oversight? His financial team isn't stupid.

          These guys (Zuckerberg, Buffett, Gates) are 100% about the paycheck.

          Don't bother with the building a school in Africa, clean water for a village stories. I have Google News.
          You don't know that. How could we know how they think? I certainly don't.
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          • Profile picture of the author discrat
            Originally Posted by Claude Whitacre View Post

            You don't know that. How could we know how they think? I certainly don't.
            That's the biggest bunch of BS I heard in awhile.

            Everyone knows that 'Lord Whitacre' knows everything
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            • Profile picture of the author Kay King
              It used to be most people who became humongously rich displayed it by fancy events - travel - purchases - building huge mansions.

              I think it's refreshing to see people earning huge amounts and donating a large portion of their wealth. Gates has said for years he will not be leaving his huge fortune to his children. Buffet has said the same and I expect Zuckerberg will be like that, too. Instead of dynasties they are creating legacies and I can't fault that.
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              • Profile picture of the author Kurt
                Originally Posted by Kay King View Post

                It used to be most people who became humongously rich displayed it by fancy events - travel - purchases - building huge mansions.

                I think it's refreshing to see people earning huge amounts and donating a large portion of their wealth. Gates has said for years he will not be leaving his huge fortune to his children. Buffet has said the same and I expect Zuckerberg will be like that, too. Instead of dynasties they are creating legacies and I can't fault that.
                I read an interesting article along these lines. The author believe Bill Gates will be remembered for generations, while Steve Jobs won't, due to Gates building a legacy and Jobs didn't.


                It's also interesting how many of the robber barons were very greedy early in their careers, then after they built fortunes they turned to philanthropy.
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              • Profile picture of the author Claude Whitacre
                Originally Posted by Kay King View Post

                It used to be most people who became humongously rich displayed it by fancy events - travel - purchases - building huge mansions.

                I think it's refreshing to see people earning huge amounts and donating a large portion of their wealth. Gates has said for years he will not be leaving his huge fortune to his children. Buffet has said the same and I expect Zuckerberg will be like that, too. Instead of dynasties they are creating legacies and I can't fault that.
                I don't know any Billionaires, but I know lots of millionaires.

                The vast majority are hard working people, who treat others fairly. And I can't think of one that doesn't give generously to several charities.

                But.......even if they kept every dime, and never donated anything to anyone, I wouldn't see anything wrong with it.

                Many viewpoints fascinate me. One of them is how most people think of rich people.

                The actors, sports celebrities, and heirs to fortunes are sometimes Stupid Rich. But the people that got rich on their own, but working their business, are very seldom stupid rich.

                Gates, Zuckerberg, Jobs, Buffet.....guys like that are less interested in making a dollar, and are more interested in making history. But that doesn't mean they aren't interested in money.

                At least that's my observation.
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                • Profile picture of the author lanfear63
                  Zuckerberg was someone who just wrote code (commissioned or stole allegedly) to create a Social Media Website. It was still relatively early days for the net. It went viral and many people joined so the obvious thing was to put/sell advertising it and create revenue. From there on you just get talented people around you to improve the platform.

                  So, really he got lucky with something and without putting that much work in, made a pile of cash. Rather like winning a mega lotto really.

                  And we all know what ordinary people do when they win the lotto. Remain ordinary people with money. What they do with it is not always inspiring or sensible and also it seems some don't appreciate it or use it much.

                  How often do you hear about the couple who win, have a vacation, buy a new house and a car and then go back to their mundane jobs. (Alot)

                  It's taken him a long time to wise up a little and become any sort of businessman. By giving up all that money he's still going to be wealthy beyond his dreams. I admire the fact that he is putting it towards the betterment of mankind and the world.
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                • Profile picture of the author yukon
                  Banned
                  Originally Posted by Claude Whitacre View Post

                  Gates, Zuckerberg, Jobs, Buffet.....guys like that are less interested in making a dollar, and are more interested in making history.
                  You're delusional.

                  Take away their money making businesses & they're a bunch of nobodies. Everything each of those guys has ever done revolved around huge amounts of investor money.

                  It's all about the money.
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                  • Profile picture of the author Claude Whitacre
                    Originally Posted by yukon View Post

                    You're delusional.

                    Take away their money making businesses & they're a bunch of nobodies. Everything each of those guys has ever done revolved around huge amounts of investor money.

                    It's all about the money.

                    I can't fault your logic. Yes, if you take away the businesses they built....they will not be rich.


                    You rich guys really have it out for each other, don't you?


                    I'm delusional.
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                    • Profile picture of the author yukon
                      Banned
                      Originally Posted by Claude Whitacre View Post

                      I can't fault your logic. Yes, if you take away the businesses they built....they will not be rich.


                      You rich guys really have it out for each other, don't you?


                      I'm delusional.
                      You know I'm right.

                      None of those guys would be rich today without investor money, especially Zuckerberg considering how fast the web moves with the next greatest site (RIP MySpace). If he didn't have investor money from the beginning, he'd be flipping burgers at White Castle.

                      Mark didn't invent social websites, anyone can build a site. His talents aren't building sites, it's having connections to other people that have money. That's his talent.

                      Even with his billions of dollars today he's still dependent on investor money (stocks).

                      So yea, it's all about the money.

                      [edit]
                      Keep in mind the timeline, Facebook started in 2004 so the money flowed in less than 6 months later.


                      [source]
                      In mid-2004, entrepreneur Sean Parker -- an informal advisor to Zuckerberg -- became the company's president. In June 2004, Facebook moved its operations base to Palo Alto, California. It received its first investment later that month from PayPal co-founder Peter Thiel. In 2005, the company dropped "the" from its name after purchasing the domain name facebook.com for US$200,000.


                      Mark Zuckerberg, co-creator of Facebook, in his Harvard dorm room, 2005.
                      In May 2005, Accel partners invested $12.7 million in Facebook, and Jim Breyeradded $1 million of his own money.
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                      • Profile picture of the author Claude Whitacre
                        Originally Posted by yukon View Post

                        None of those guys would be rich today without investor money, especially Zuckerberg
                        Ok, So? Does that make them less philanthropic? Less of a generous person?

                        This is what we were talking about.



                        Originally Posted by yukon View Post

                        C'mon now, surely you've noticed that word before today.
                        Nope. And today is also the first time I've seen the word incongruity.
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                        • Profile picture of the author yukon
                          Banned
                          Originally Posted by Claude Whitacre View Post

                          Ok, So? Does that make them less philanthropic? Less of a generous person?

                          This is what we were talking about.

                          Nope. And today is also the first time I've seen the word incongruity.


                          What philanthropy?

                          He created a foundation with no accountability that's supposed to give money to some mystery cause? Now that's generosity!

                          Sign me up! I'll take credit for saving a village from itself [cough - tax shelter].









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                  • Profile picture of the author Frank Donovan
                    Originally Posted by Kurt View Post

                    It's also interesting how many of the robber barons were very greedy early in their careers, then after they built fortunes they turned to philanthropy.
                    Having more money that you could ever spend changes your priorities. Even if they start out selfishly, it's rare to find a selfish rich person, although no doubt there are exceptions. We're wired to provide for our own needs first, then family, tribe, country, and the world, roughly in that order.

                    Originally Posted by Claude Whitacre View Post

                    The vast majority are hard working people, who treat others fairly. And I can't think of one that doesn't give generously to several charities.
                    That's also been my observation. Leaving aside the impact of some mega corporations, most successful individuals give more than they personally consume, in the form of taxes, job creation, charity work, and so on. I'd be surprised if the average very rich person consumed more than 10 percent of the total wealth they created over their business career.

                    .
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                    • Profile picture of the author Claude Whitacre
                      Originally Posted by Frank Donovan View Post

                      That's also been my observation. Leaving aside the impact of some mega corporations, most successful individuals give more than they personally consume, in the form of taxes, job creation, charity work, and so on. I'd be surprised if the average very rich person consumed more than 10 percent of the total wealth they created over their business career.

                      .
                      If you are agreeing with something I said, you're delusional.

                      (I just learned that word, and wanted to use it in a sentence)
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                      • Profile picture of the author yukon
                        Banned
                        Originally Posted by Claude Whitacre View Post

                        If you are agreeing with something I said, you're delusional.

                        (I just learned that word, and wanted to use it in a sentence)

                        C'mon now, surely you've noticed that word before today.
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                    • Profile picture of the author Kurt
                      Originally Posted by Frank Donovan View Post

                      Having more money that you could ever spend changes your priorities. Even if they start out selfishly, it's rare to find a selfish rich person, although no doubt there are exceptions. We're wired to provide for our own needs first, then family, tribe, country, and the world, roughly in that order.

                      .
                      I would claim that the robber barons were very greedy. They built their wealth on the lack of fair wages, working conditions, health, safety and lives of their employees. I don't think a person can be more greedy than that.


                      Also, I won't make a blanket statement about why they became philanthropists later in life. It could be that they accumulated more money that they could every spend. It could also be that later in life they began to face their own mortality, maybe a bit of "follow the leader" or peer pressure. Maybe it's different for each person and maybe it's a combo of multiple motivations.


                      People like Carnegie and Vanderbilt created things with their names on them that would keep their names alive for generations, which to me hints at wanting to create a legacy more than being charitable.


                      But, we'll never really know. And I find that interesting.
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                      • Profile picture of the author Frank Donovan
                        Originally Posted by Kurt View Post

                        I would claim that the robber barons were very greedy.
                        I would agree.

                        Originally Posted by Kurt View Post

                        Also, I won't make a blanket statement about why they became philanthropists later in life.
                        Neither will I. All I claimed was that people's priorities change.

                        Originally Posted by Kurt View Post

                        People like Carnegie and Vanderbilt created things with their names on them that would keep their names alive for generations, which to me hints at wanting to create a legacy more than being charitable.
                        To me, it suggests a high degree of self-importance. That's not necessarily a criticism - charities thrive from the egos of the rich.

                        .
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                    • Profile picture of the author discrat
                      Originally Posted by Frank Donovan View Post

                      Having more money that you could ever spend changes your priorities. Even if they start out selfishly, it's rare to find a selfish rich person, although no doubt there are exceptions. We're wired to provide for our own needs first, then family, tribe, country, and the world, roughly in that order.
                      You've obviously never heard of this woman
                      https://en.wikipedia.org/wiki/Hetty_Green
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          • Profile picture of the author yukon
            Banned
            Originally Posted by Claude Whitacre View Post

            You don't know that. How could we know how they think? I certainly don't.
            You're right, forget common sense, it's way overrated.

            Research Buffett, it doesn't take a rocket surgeon to figure the guy out.






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  • Profile picture of the author discrat
    Originally Posted by TLTheLiberator View Post

    Facebook founder Mark Zuckerberg and his wife Priscilla Chan pledged Tuesday to give away 99 percent of their shares in the social networking giant – currently valued around $45 billion – in a letter to the couple's newborn daughter, Max.


    Mark Zuckerberg Pledges To Donate $45B Of Facebook Shares In Letter To Daughter
    Oh Poor Mark and Priscilla, getting rid of 99% of their Wealth

    They will only have a measly 450 million dollars after this ( if they cashed in their Stocks today)

    Goodness gracious the horror.

    Mark might need to pick up a second job
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    • Profile picture of the author TLTheLiberator
      Originally Posted by discrat View Post

      Oh Poor Mark and Priscilla, getting rid of 99% of their Wealth

      They will only have a measly 450 million dollars after this ( if they cashed in their Stocks today)

      Goodness gracious the horror.

      Mark might need to pick up a second job

      Can you help me with Yukon's math?
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      • Profile picture of the author Kay King
        What Zuckerberg or Buffet or Gates or any other rich person does with their money....is just not my business.
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        • Profile picture of the author discrat
          Originally Posted by Kay King View Post

          What Zuckerberg or Buffet or Gates or any other rich person does with their money....is just not my business.
          I disagree.
          In some ways it is our business when they are publicly stating that they will be putting these unbelievable amounts of funds (purportedly) to work towards many areas of public Service. This has and can affect us all indirectly (and directly)
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          • Profile picture of the author Kurt
            Originally Posted by discrat View Post

            I disagree.
            In some ways it is our business when they are publicly stating that they will be putting these unbelievable amounts of funds (purportedly) to work towards many areas of public Service. This has and can affect us all indirectly (and directly)
            Either the story is manufactured, it was leaked by someone close to his family, or Zuckerberg made a public release. If he made it public, then it's open for public comment and opinion.


            On the other hand, even if he made it public, I reserve the right not to have any interest.
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      • Profile picture of the author yukon
        Banned
        Originally Posted by TLTheLiberator View Post

        Can you help me with Yukon's math?

        Round up to the closest whole number, multiple by 3.14, divide by 2 & find the common denominator.

        If you want the price on the Buffett Coupe de Ville try Kelley Blue Book, they'll do the math for you.
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  • Profile picture of the author yukon
    Banned
    Maybe this will help folks see how some of these guys are running money schemes.



    Using a charitable remainder unitrust, or CRUT, for example, avoids capital gains taxes for those with big stock market or other gains, increases current income, and generates an immediate income tax deduction—even though the designated charity may wait decades to get paid and ultimately collect just 10 percent of the donated amount.
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  • Profile picture of the author MikeTucker
    Call me jaded because my family is in oil.
    (Or maybe just because I know my family... Hey, they would make you jaded, too!)
    But anyway, I do know several billionaires.
    And their sole interest in charity is that it's one of the last remaining tax havens.

    Not that I'm accusing the Gates or Zuckerberg families of having the same motivations as my father did, or as my uncles do. Quite the contrary, I've seen both do things that I think are very noble with their money. (Things many of my family members tend to hate them for, which makes me think they are probably decent people, haha!)

    And being honest, as I'm getting older-- and again, more jaded-- I'm tending to think that I can do more good by myself than the government would do with my money, so while I will always be proud to pay a fair amount of taxes, I'm not really giving too much extra, either.

    So I'm kinda thinking, if they are using these charities as tax havens, I'm not really all that upset about it? Better than having it sit offshore, and maybe they'll do some good with it, just to keep-up appearances?
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