Mark Zuckerberg clearly has more invisible money than he knows what to do with, given that the Web2.0 paper billionaire has agreed to offload most of his wealth to charity. The Facebook founder's philanthropic assertion echoes that of tech titan Bill Gates and in fact was instigated by the Microsoft chairman's own "Giving Pledge …
"All of which leaves us wondering if Zuck will change his mind about the pledge if his real world fortunes were to plummet?"
IMHO that is a stupid question - I imagine that almost ANYONE experiencing a serious "change in fortune" would modify their charitable commitments. Or to put it another way - kind of hard to give away what you don't have.
Based on half of what I've read, Zuck is probably a wee bit of a schmuck; but if he's willing to try and give healthy contributions to charity then perhaps it would be reasonable to lay off?
I'm a billionaire too
Well, no, of course you can't SEE the money, you just have to believe that I have it. And I will give you some of it too if you just invest a couple of million in my company now to prove that you are worthy.
The pledge is to leave wealth to charity after death, a small fact missed in the whole article.
Since you can't take it with you his afterlife pocket won't notice.
So he's a greedy bastard for the greater good now?
I am surely going to get downvoted for this...
.. but many guys here (+ author) have NO CLUE how "big" money works.
Of course, I am not talking about getting a paycheck and managing a budget. I am talking about hi-risk investments where the value is on the potential not current income/assets. There are very few people in the tech world who doubt facebook's ability monetize the customer base in a big way. That's why companies sell to facebook, investors put money in facebook and Zuck can expect to donate his billions.
But can these investors be wrong ? Of course, there is a significant chance that facebook will not "work out". There is an inherent risk/reward in any investment. There is _always_ a chance that a particular investment will not "work out". Say, there is a risk in putting money in gold or euros or stocks.. surely less than facebook. But your returns are also going to be lower.
How can facebook make money ? As an example: It can be a platform where other apps will make money.. facebook will get a commission.
Paris, coz she know more about money than most commentards here.
he's got time.
The pledge is not to immediately donate, but simply to do so "before you leave this earth." He's 23. though i think he might make some sizable commitments, he's not giving away "half" anytime soon, unless he plans to give away half what he has today knowing he'll make ten times that later as opposed to giving away half his lifetime fortune as is the spirit of the gift.
not the dating site bots then
For a minute there I thought this was going to be about the number of bots on facebook signing up men and pointing them in the direction of a 'probably just bots' dating site.
Seems to me
This is all some kind of clever sleight of hand tax dodge scam. Someone's behind the curtain. I kind'a believed it with Bill Gates, but George Lucas? A philanthropist? C'mon... He raped Indiana Jones (South Park).
What about me??
I'm really pissed off about this. I'm worth $7B as well, but no-one's printing stories about *me*. My world-changing Web3.0 app is worth $15B (my wife spent $1 on 6.7E-9% of it), I've got 50%, and nobody gives a damn... :(
the pledge is better PR than an actual donation
so they make this pledge and the world + dog kisses their arse. But is there any legal enforcement to make them follow through in a decade or two when the easily-fooled have forgotten about it?
When at their deathbed they decide to keep the cash in the family, is there anything at all to enforce this pledge?
Gotta love this new world of media hype. You don't have to actually *do* anything, or sacrifice anything, as long as you give voice to "charity" or "compassion". If you're a media darling (or agitate towards the Media's favorite causes) you're given the same or bigger free pass than someone who actually sacrificed time or money because the real numbers aren't as big as the fantasy ones.
Especially if you're a critic of government sponsored enabling programs-even if you're not rich but still donate hundreds of dollars per year and dozens of hours of your time to help individuals in your own community, you're still a pariah-but the @sshat who simply parrots the "think of the poor children" line and berates politicians who act just the same as him -unwilling to actually lift a finger to help a family member in need for example-is the "compassionate" one who everyone thinks is some sorta living saint.
LOL not so voluntary
these guys know that "inheritance taxes" will grab half anyways. I bet that just happens to be the same half they're supposed to donate
According to me this is just a way of cleaning up the public image of Facebook. Facebook has become totally unsafe and not secure. I have quit Facebook as a result of these issues and am currently trying out Diaspora. I hope a new fresh social networking platform releases which is truly secure. MyCube seems to be a good solution if implemented as promised
- Vid Hubble 'scope snaps 200,000-ton chunky crumble conundrum
- Updated + vids WHOA: Get a load of Asteroid DX110 JUST MISSING planet EARTH
- 10 years of Facebook Inside Facebook's engineering labs: Hardware heaven, HP hell – PICTURES
- Very fabric of space-time RIPPED apart in latest Hubble pic
- Massive new AIRSHIP to enter commercial service at British dirigible base