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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. Regulation strikes again by SuperKendall · · Score: 0, Troll

    It's now so onerous to run an organization the IRS considers a "real" charity that lots of big money that actually cares about accomplishing something, will soon be taking similar steps.

    --
    "There is more worth loving than we have strength to love." - Brian Jay Stanley
  2. Re:who cares? by ganjadude · · Score: 1, Troll

    he owes us?

    please tell me what he owes us. I may not be fond of the man but how does a man who gives people a service for free owe us anything???

    --
    have you seen my sig? there are many others like it but none that are the same