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Zuckerberg Answers Critics of His Move To Give Away His Facebook Stock (facebook.com)

Posted by samzenpus on from the some-of-the-people-some-of-the-time dept.

An anonymous reader writes: Mark Zuckerberg's announcement that he and his wife are giving away $45 billion worth of Facebook stock garnered a lot of praise and a fair bit of criticism. The Facebook CEO answered some of the apprehension in a post that reads in part: "By using an LLC instead of a traditional foundation, we receive no tax benefit from transferring our shares to the Chan Zuckerberg Initiative, but we gain flexibility to execute our mission more effectively. Just like everyone else, we will pay capital gains taxes when our shares are sold by the LLC."

2 of 174 comments (clear)

  1. Re:Haters gonna hate by Beck_Neard · · Score: 1, Funny

    So you're saying that when Microsoft releases open source code it is ENTIRELY altruistic? Right...

    --
    A fool and his hard drive are soon parted.
  2. Re:who cares? by PolygamousRanchKid+ · · Score: 2, Funny

    We don't generally call these types of activities 'charity.'

    I think he should spend his fortune on coke and hookers.

    Then he could claim that he was supporting farmers in Bolivia and self-employed women.

    --
    Schroedinger's Brexit: The UK is both in and out of the EU at the same time!