Mark Zuckerberg Gives $990 Million To Charity

Posted by timothy on Thursday December 19, 2013 @04:38AM from the pocket-change-we-can-believe-in dept.

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."

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Re:oh boy... by Anonymous Coward · 2013-12-19 05:46 · Score: 0, Troll

Taxes in America make this the only reasonable way for the wealthy to "give."
Yes, because only the poor should have to pay taxes. Thank you for supporting the perpetuation of one very large and key component of the US national debt's continual increase.