webfact Posted December 2, 2015 Share Posted December 2, 2015 Facebook's Mark Zuckerberg to give away 99% of shares(BBC) Facebook's Mark Zuckerberg and his wife Priscilla Chan say they will give away 99% of their shares in the company to good causes as they announce the birth of their daughter Max.Mr Zuckerberg made the announcement in a letter to Max on his Facebook page.He said they are donating their fortune to the Chan Zuckerberg Initiative because they want to make the world a better place for Max to grow up in.Full story: http://www.bbc.com/news/world-us-canada-34978249-- BBC 2015-12-02 Link to comment Share on other sites More sharing options...
Seastallion Posted December 2, 2015 Share Posted December 2, 2015 Nice. I hope (and I'm sure they will) choose wisely. Cue all the begging letters. Link to comment Share on other sites More sharing options...
steven100 Posted December 2, 2015 Share Posted December 2, 2015 nice gesture but I doubt it'll make the world any different for max. Link to comment Share on other sites More sharing options...
BKKdreaming Posted December 2, 2015 Share Posted December 2, 2015 Good , but it will be interesting to see what facebook shares are worth 10-20 years down the road , Link to comment Share on other sites More sharing options...
Maggusoil Posted December 2, 2015 Share Posted December 2, 2015 nice gesture but I doubt it'll make the world any different for max. There is the usual and there is the new. This is probably the first time in our history that so much has been given away to so many in one lump. This is the new. Of course there is the problem of how to spend it. Not our problem. Not making a difference is old. Everything makes a difference. From the smallest gesture of kindness to the largest. No one of us can make a difference to the world's problems, but every one of us can make a difference to the world around us, if and when we choose to. Once a day, every day? Link to comment Share on other sites More sharing options...
arminbkk Posted December 2, 2015 Share Posted December 2, 2015 They should put it all toward any cause that makes oil not needed anymore. Link to comment Share on other sites More sharing options...
keemapoot Posted December 2, 2015 Share Posted December 2, 2015 After giving away 99%, Zuckerberg will be a newly impoverished half a billionaire with a net worth of only 450 million. Link to comment Share on other sites More sharing options...
TooPoopedToPop Posted December 2, 2015 Share Posted December 2, 2015 After giving away 99%, Zuckerberg will be a newly impoverished half a billionaire with a net worth of only 450 million. He won't be giving anything away Creating a 'Foundation' is a clever way by the super rich to protect their wealth from the IRS and onerous inheritance taxes. Difficult to believe that all these people suddenly beacame so altruistic Buffet, Gates, Clinton,..even going back to the days of the Rockefellers,Carnegies, Ford. Your post has a cynical tone... but in all probability it's spot on. Link to comment Share on other sites More sharing options...
chicowoodduck Posted December 2, 2015 Share Posted December 2, 2015 Do good, get good....kudos to him...??? Link to comment Share on other sites More sharing options...
expat_4_life Posted December 2, 2015 Share Posted December 2, 2015 After giving away 99%, Zuckerberg will be a newly impoverished half a billionaire with a net worth of only 450 million. He won't be giving anything away Creating a 'Foundation' is a clever way by the super rich to protect their wealth from the IRS and onerous inheritance taxes. Difficult to believe that all these people suddenly beacame so altruistic Buffet, Gates, Clinton,..even going back to the days of the Rockefellers,Carnegies, Ford. Not only that, but he'll be able to do whatever he wants with the money without personal scrutiny. Link to comment Share on other sites More sharing options...
car720 Posted December 2, 2015 Share Posted December 2, 2015 After giving away 99%, Zuckerberg will be a newly impoverished half a billionaire with a net worth of only 450 million. He won't be giving anything away Creating a 'Foundation' is a clever way by the super rich to protect their wealth from the IRS and onerous inheritance taxes. Difficult to believe that all these people suddenly beacame so altruistic Buffet, Gates, Clinton,..even going back to the days of the Rockefellers,Carnegies, Ford. and on top of that they blatantly laugh in our faces by telling us this rubbish. The conceit of these people. It must be so nice to sit on God's table the way they do. I read an article somewhere that if just 6 billion was spent then we could ensure freeflowing water to the entire continent of Africa. Link to comment Share on other sites More sharing options...
swoods58 Posted December 2, 2015 Share Posted December 2, 2015 You must be joking. The Bill and Melinda Gates foundation has saved 100s of thousands of l8ves in Africa and he has donated 28 billion plus dollars. Link to comment Share on other sites More sharing options...
SiSePuede419 Posted December 2, 2015 Share Posted December 2, 2015 "Creating a 'Foundation' is a clever way by the super rich to protect their wealth from the IRS and onerous inheritance taxes." The number one goal of a foundation is to protect the interests of the people who funded the foundation. Of course it's a scam. Drive around any major city and look at all the nice buildings that foundations think they need. There's probably much worst ways of doing tax scams. It all depends on the objectives of the founder, then the heirs. Link to comment Share on other sites More sharing options...
NeverSure Posted December 2, 2015 Share Posted December 2, 2015 Many wealthy people give away large sums of money, but they give them to a charitable trust that they control. Giving to the trust is a tax deductible event and saves the donor a bundle in taxes. Imagine the capital gains taxes this guy would have to pay if he sold the shares today at the profit he would realize. He can deduct from his taxes the value of the stock even though it didn't cost him that much. Then the huge amounts of money he has made from the company itself can be almost tax free due to the deductions. There is always a way to game the system and rich people have experts to help them. Notice that the article never claimed this would leave the donor broke. Link to comment Share on other sites More sharing options...
Credo Posted December 2, 2015 Share Posted December 2, 2015 I am always amazed at how cynical people can be. The guy sets up foundation to help others. Of course, he avoids taxes, but the point is either his money can go to help others as he sees best or he can pay it in taxes. Kudos to Zuckerberg and congratulations to him and his wife on the new addition to their family. I hope this new and positive endeavor with his wealth gives them all some meaning and fulfillment. I don't think sitting on piles of cash does. It didn't seem to bring Steve Jobs a great deal of comfort. Link to comment Share on other sites More sharing options...
djlest Posted December 2, 2015 Share Posted December 2, 2015 i've met Mark, he comes to Thailand quite often. I drove him home from Zenred Salon in Rama 3 where he was getting his haircut a few years ago we got chatting and he was a very down to earth guy. It was before he got married and he was telling me that he had just made another substantial amount of money investing in a detergent factory here in Thailand. It was after the floods so he must have profited well from the clean up. Sadly he hasnt been back for a few years now, but whatever he touches usually makes good, its not just FB. Link to comment Share on other sites More sharing options...
stander Posted December 2, 2015 Share Posted December 2, 2015 Zuckerberg pledges to donate wealth when he dies in 60 years time, for tax deduction while living...... Liberals cheer Link to comment Share on other sites More sharing options...
Don Mega Posted December 2, 2015 Share Posted December 2, 2015 Many wealthy people give away large sums of money, but they give them to a charitable trust that they control. Giving to the trust is a tax deductible event and saves the donor a bundle in taxes. Imagine the capital gains taxes this guy would have to pay if he sold the shares today at the profit he would realize. He can deduct from his taxes the value of the stock even though it didn't cost him that much. Then the huge amounts of money he has made from the company itself can be almost tax free due to the deductions. There is always a way to game the system and rich people have experts to help them. Notice that the article never claimed this would leave the donor broke. Notice the article said he would give away 99% of shares..... That last 1% is worth about 450million. Might be why they did not mention this would leave him broke. Link to comment Share on other sites More sharing options...
pedro01 Posted December 2, 2015 Share Posted December 2, 2015 nice gesture but I doubt it'll make the world any different for max. He'll be making a lot more difference than any nay-sayers for sure. Link to comment Share on other sites More sharing options...
off road pat Posted December 2, 2015 Share Posted December 2, 2015 After giving away 99%, Zuckerberg will be a newly impoverished half a billionaire with a net worth of only 450 million. He won't be giving anything away Creating a 'Foundation' is a clever way by the super rich to protect their wealth from the IRS and onerous inheritance taxes. Difficult to believe that all these people suddenly beacame so altruistic Buffet, Gates, Clinton,..even going back to the days of the Rockefellers,Carnegies, Ford. Exactly,....That's why all those Kings, Queens, princes, princesses, ex presidents, etc,...have "Charity" Foundations...it let's them continue the good life (first class air-tickets or private jets, five star hotels and top restaurants) on expenses reimbursed by there charity...... Best regards. Link to comment Share on other sites More sharing options...
off road pat Posted December 2, 2015 Share Posted December 2, 2015 I am always amazed at how cynical people can be. The guy sets up foundation to help others. Of course, he avoids taxes, but the point is either his money can go to help others as he sees best or he can pay it in taxes. Kudos to Zuckerberg and congratulations to him and his wife on the new addition to their family. I hope this new and positive endeavor with his wealth gives them all some meaning and fulfillment. I don't think sitting on piles of cash does. It didn't seem to bring Steve Jobs a great deal of comfort. It did bring Steve Jobs a great deal of comfort in he's life time, a huge one indeed,.........but he was mortal, and could not take it with him in the grave... Regards, Link to comment Share on other sites More sharing options...
SheungWan Posted December 2, 2015 Share Posted December 2, 2015 You will find that most of the Sour Puss mean-minded team on this thread have trouble leaving a 10 baht tip in their daily lives here in Thailand. Link to comment Share on other sites More sharing options...
steven100 Posted December 2, 2015 Share Posted December 2, 2015 nice gesture but I doubt it'll make the world any different for max. He'll be making a lot more difference than any nay-sayers for sure. That's why all those Kings, Queens, princes, princesses, ex presidents, etc,...have "Charity" Foundations...it let's them continue the good life (first class air-tickets or private jets, five star hotels and top restaurants) on expenses reimbursed by there charity..... Link to comment Share on other sites More sharing options...
KonKorat Posted December 2, 2015 Share Posted December 2, 2015 Good on you Mark, Link to comment Share on other sites More sharing options...
nithisa78 Posted December 2, 2015 Share Posted December 2, 2015 You will find that most of the Sour Puss mean-minded team on this thread have trouble leaving a 10 baht tip in their daily lives here in Thailand. they are takers , not givers. most of them self-haters. Link to comment Share on other sites More sharing options...
Credo Posted December 3, 2015 Share Posted December 3, 2015 nice gesture but I doubt it'll make the world any different for max. He'll be making a lot more difference than any nay-sayers for sure. That's why all those Kings, Queens, princes, princesses, ex presidents, etc,...have "Charity" Foundations...it let's them continue the good life (first class air-tickets or private jets, five star hotels and top restaurants) on expenses reimbursed by there charity..... And if they didn't have a 'charity', they couldn't continue with the good life? I don't think so. They could live an even better life, instead they use their money, fame and time to help others have a little bit better life. Link to comment Share on other sites More sharing options...
BKKdreaming Posted December 3, 2015 Share Posted December 3, 2015 I wish him well , if just one thing is invented or improved that helps a large number of the people that is good , I hope they work on crops that will grow in the changing climate , will grow in salt water and without chemicals, Has anyone seen interviews of what he is really interested in ? Link to comment Share on other sites More sharing options...
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