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Mark Z plans to give away 99% of his Facebook stake to philanthropic intiatives

Is TSR allergic to positive news or something? This is a fantastic pledge from the Zuckerberg family and deserves a thread of it's own!

Below is his Facebook post:


Priscilla and I are so happy to welcome our daughter Max into this world!

For her birth, we wrote a letter to her about the world we hope she grows up in.It's a world where our generation can advance human potential and promote equality -- by curing disease, personalizing learning, harnessing clean energy, connecting people, building strong communities, reducing poverty, providing equal rights and spreading understanding across nations.We are committed to doing our small part to help create this world for all children.

We will give 99% of our Facebook shares -- currently about $45 billion -- during our lives to join many others in improving this world for the next generation.Thank you to everyone in this community for all your love and support during the pregnancy. You've given us hope that together we can build this world for Max and all children.



Questions you can answer:

1) How do you imagine Facebook's future shareholding structure to look like?
2) Would MZ still have majority voting rights with his 1% stake?
3) Are you glad to hear this?
4) Do you think this is a publicity stunt?
(edited 8 years ago)
MZ is a don. He has seen the reality of his wealth in that it becomes saturated after 100 million. Maybe far less in fact. I struggle to see why you cant do whatever you want to in life with that sort of cash. Its like an enzyme substrate reaction. Once all the active sites are occupied, adding excess substrate has no difference, the substrates are the excess money in this case. It makes no difference really. He has seen the bigger pictutre, the legacy he can leave and the further name he can make for himself. MZ the creator of facebook, or MZ the man who helped bring poverty to an end.
Original post by the terminator
MZ is a don. He has seen the reality of his wealth in that it becomes saturated after 100 million. Maybe far less in fact. I struggle to see why you cant do whatever you want to in life with that sort of cash. Its like an enzyme substrate reaction. Once all the active sites are occupied, adding excess substrate has no difference, the substrates are the excess money in this case. It makes no difference really. He has seen the bigger pictutre, the legacy he can leave and the further name he can make for himself. MZ the creator of facebook, or MZ the man who helped bring poverty to an end.


Lmao never in a million years would I have thought of a receptor analogy.
Fair play! Very true :smile:
Original post by the terminator
MZ is a don. He has seen the reality of his wealth in that it becomes saturated after 100 million. Maybe far less in fact. I struggle to see why you cant do whatever you want to in life with that sort of cash. Its like an enzyme substrate reaction. Once all the active sites are occupied, adding excess substrate has no difference, the substrates are the excess money in this case. It makes no difference really. He has seen the bigger pictutre, the legacy he can leave and the further name he can make for himself. MZ the creator of facebook, or MZ the man who helped bring poverty to an end.


Haha I'm revising enzymes and just read over my notes about substrate concentration then clicked this thread and read this :lol:
Original post by the terminator
MZ is a don. He has seen the reality of his wealth in that it becomes saturated after 100 million. Maybe far less in fact. I struggle to see why you cant do whatever you want to in life with that sort of cash. Its like an enzyme substrate reaction. Once all the active sites are occupied, adding excess substrate has no difference, the substrates are the excess money in this case. It makes no difference really. He has seen the bigger pictutre, the legacy he can leave and the further name he can make for himself. MZ the creator of facebook, or MZ the man who helped bring poverty to an end.


Vintage TSR post!

According to my manager, if a person racks up USD 3 billion, his life is set till his death. That means he can travel wherever he wants, he can buy whatever he want, even buy a jet to crash land it and then order a new one.

Basically earn $3 bn to stop working for life. If memory serves me right MZ's net worth is around the $30 billion figure.

Part of me thinks with fatherhood and all that, he has reevaluated his goals and objectives and is now looking to ensure how he can shape the world so his little daughter doesn't need to deal with gloabal warming and the next ebola and whatnot.

That and his connection with Bill Gates is pure legit and full of mutual respect.

What a good don!
Original post by the terminator
MZ is a don. He has seen the reality of his wealth in that it becomes saturated after 100 million. Maybe far less in fact. I struggle to see why you cant do whatever you want to in life with that sort of cash. Its like an enzyme substrate reaction. Once all the active sites are occupied, adding excess substrate has no difference, the substrates are the excess money in this case. It makes no difference really. He has seen the bigger pictutre, the legacy he can leave and the further name he can make for himself. MZ the creator of facebook, or MZ the man who helped bring poverty to an end.


This comparison was genius.
Reply 6
Avatar for MJ1012
MJ1012
18
Good, he owes it to the world for the monstrosity he created.
It makes sense to me. No one remembers people for being rich because there's hundreds of billionaires and will be thousands by the time the current ones pass away. If you want to be remembered you have to do something great, and creating Facebook hardly qualifies as it probably won't exist in 10 years time nevermind 50. Making a difference to humanity will get you remembered.
Original post by DiceTheSlice
Is TSR allergic to positive news or something? This is a fantastic pledge from the Zuckerberg family and deserves a thread of it's own!

Below is his Facebook post:



Questions you can answer:

1) How do you imagine Facebook's future shareholding structure to look like?
2) Would MZ still have majority voting rights with his 1% stake?
3) Are you glad to hear this?
4) Do you think this is a publicity stunt?


Mark Zuckerberg's "donation" is not going to Charity per se, it is going to a organisation set up as an LLC, which allows him to evade tax by moving it into a foundation.

By doing that, he will get tax benefits and estate planning benefits and whilst he may be "giving away" the value of his company, he will still retain control and power over his company.
He should have had it taxed away long ago. We shouldn't be reliant on the grace and favour of unelected, unaccountable, non-transparent "philanthropists" to release funds for the good of society.

Plus as mentioned it's not even philanthropy, he's just arranging his money in a shell company in order to avoid tax; he retains control.

Stop worshipping them.

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