Mark Zuckerberg Gives $990 Million To Charity

mrspoonsi writes with this excerpt from Business Insider: "This morning, Mark Zuckerberg announced plans to give 18 million Facebook shares to charity by the end of the month. Facebook is currently trading at $55 per share, so Zuckerberg's gift is worth just under $1 billion. The money will go toward Zuckerberg's foundation, the Silicon Valley Community Foundation and The Breakthrough Prize In Life Science, a [Nobel] Prize-like award. Zuckereberg is giving his shares away as part of a secondary stock offering from Facebook. Reuters says Zuckerberg will sell 41.4 million shares, reducing his voting power in the company from 58.8% to 56.1%. Other insiders selling include board member Marc Andreessen, who will sell 1.65 million shares. Facebook is selling 27 million."

Comments

Re:oh boy...

[pepty]

Gates is an awesome model for billionaire charity: Warren Buffet likes it so much he is going to donate 85% of his wealth to it. Most of the money goes to biomedical (TB, AIDS, sanitation, fresh water, vaccines, orphan diseases) issues that can't really improve the market for M$ other than through brand management ... and healthier customers.

Better here than political

[tomhath]

There have been plenty of very wealthy individuals who create foundations Rockefeller, Ford, now Gates and Zuckerberg. They can do a lot of good, arguably more than Ted Turner donating $1B to the UN.

I sure prefer to see it spent this way then surreptitiously funding political activity through tax exempt organizations like George Soros.

Re:oh boy...

[Radtastic]

Citation definitely needed here.

This document https://docs.gatesfoundation.org/Documents/agricultural-development-strategy-overview.pdf from the gates foundation would lead one to believe that they are promoting local farmers, not suppressing them.