• Mark Zuckberg to donate 99% of it's money to charity
    55 replies, posted
I'll believe it when I see the receipts.
He's already so rich that him and his family would be able to live for generations without worries, so it makes perfect sense to be a little generous. 99% is a [I]massive[/I] digit however, kinda sounds like a PR stunt.
[QUOTE=Cutthecrap;49225095]You know I always thought If I had those monies... I wouldn't give it away. You know, having lived in Argentina for so long just made so weary of giving money away to "charities" and thinking they would work. I'd rather start my own charity -after all, with all the money he's got, he can't say it's a problem- in my area of expertise -In his case, information and programming- and teach children or give direct support to schools in developing countries. That would have the biggest impact x dollar spent. Guess I'll have to wait a couple of decades until I can make that. EDIT: Wow, talk about repetition. I used you know twice....you know.[/QUOTE] I find that when the CEO of Unicef earns $500,000 a year that's not a charity I can get behind. They always try and cash in on the latest disaster too, not because they care but they can rake in a lot of cash from it. Don't get me wrong I find the idea of charities fantastic but a lot of them really irk me.
100% totally legal tax evasion: dumping your own company profits into a tax-exempt foundation you own. Read more about this "business trend", in this well researched [URL="http://www.usc.edu/schools/business/FBE/seminars/papers/F_10-10-08_YERMAK-Gifts.pdf"]seminar paper[/URL] from 2008.
Pretty noble of him. [QUOTE=Fourier;49223357][IMG_Thumb]http://clamo.ftdata.co.uk/files/2015-12/01/zuckerberg.jpg[/IMG_Thumb][/QUOTE] I thought he was married to his highschool sweetheart? I guess he divorced [editline]2nd December 2015[/editline] Highschool sweetheart/old gf from before he became filthy rich, that one.
[QUOTE=Butthurter;49226310]yeah its a rich guy/rich celeb you know they arent actually human beings right and everything they do is with an ulterior motive??? not that hard to figure out...[/QUOTE] You don't need to be a celeb for that
[QUOTE=bitches;49224179]Pretends?[/QUOTE] Wrote while i was half asleep :v: I meant intends to
[QUOTE=ilikecorn;49223792]I imagine this is also for tax purposes too. Don't get me wrong, it's great that it'll be going to "good causes", but he'll probably save a pretty penny on taxes too for doing it.[/QUOTE] Which on a scale this large won't mean much considering what he's giving up. I mean personally, I think such generous philanthropy resulting in no taxes is justified, as they're not just sitting on a pile of gold while the rest of the world goes to pot like most of the CEOs and business execs you always hear about exploiting the tax system. Dumping that much money into research projects or charities that don't further one's own personal agenda would make a tremendous difference, if only more people would adopt it. The whole bit where people ask the wealthy to do more isn't that we want them to give everything away, but when they make billions and they donate *only* $10K-$100K to a children's hospital here or there while splurging on super-cars and mega-mansions, it's more a manner of "Just think of how much more good you could do".
[img]https://pbs.twimg.com/media/CVMQC8MVEAIf-_z.jpg[/img]
[QUOTE=GameDev;49229720][img]https://pbs.twimg.com/media/CVMQC8MVEAIf-_z.jpg[/img][/QUOTE] For-profit and for-public good are not mutually exclusive activities.
Okay Mark, but while you're at it, can I just have a few grand, it would barely be a blip to you, but it would make so much difference to me right now. Thanks
Giving 20% to schools so they can improve their internet. Yay
He's going to enjoy his tax benefits.
It's really cool that he's doing this, but I mean... I'd also glady give up 99% if it would mean I'd be left with $471 million. This shows how crazy the amount of wealth some people can gain is kinda ludicrous. 1% of his wealth, is more than several well-known artists put together.
Can't think of this as something different than smart PR. But at least now, when he's rich, he can give away some of the munnies made from not his own idea of Facebook. But if that's true and not some PR bullshit to make him/Facebook look better, sure, I support it.
Heard on reddit that he basically donated the wealth so it goes to him tax free, this true?
I find it funny how people say the rich don't pay their fair share/are greedy/etc. But when one pledges to give massive amounts to charity or philanthropy there's always an alterior motive. [I]"Wow, how greedy of him, giving more money than I will ever see in my life to charity. He's just doing it for the taxes!"[/i] = you guys.
I'd rather the money go to charity than go to taxes, to be honest. At least there's a higher chance it will be spent in a way that actually benefits people.
[QUOTE=CoolKingKaso;49234705]He's going to enjoy his tax benefits.[/QUOTE] Well that's kinda one of the incentives of being charitable. I do genuinely believe he is doing this out of the goodness of his heart though. What is the hate behind Mark anyway?
Whatever they do with the company, pretty much all the assets are stocks (most executives take stock because US gains tax is less than half of the highest income tax bracket), which they will have to pay capital gains tax on to cash out. And it's HQ'd here, so any profits will also be taxed. We've yet to see jack shit so i'd stop sperging and give ol Zuck the benefit of the doubt for now
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