Zuckerberg Likes to give: Facebook head has donated $1 billion to charity

[DonViejo]

By Agence France-Presse
Monday, February 10, 2014 16:14 EST

Facebook founder and CEO Mark Zuckerberg was America’s most generous donor in 2013, giving nearly $1 billion of his fortune to charity, according to a magazine report on Monday.

The Chronicle of Philanthropy, which tracks charitable giving in the United States, said Zuckerberg and his wife Priscilla Chan gave 18 million shares of Facebook stock, valued at some $992 million, to the Silicon Valley Community Foundation.

The Mountain View, California-based foundation specializes in investment and management of charitable funds, with some $4.7 billion in assets under management.

Over the past two years, Zuckerberg and his wife, a physician, have given 36 million Facebook shares to the fund, valued at about $1.5 billion.

more
http://www.rawstory.com/rs/2014/02/10/zuckerberg-likes-to-give-facebook-head-has-donated-1-billion-to-charity/

[yeoman6987]

1. Awesome!

After some bashed him today on DU for being a "Legitimate Billionaire", I am so glad that this is so timely. This guy is incredible and a wonderful human being. The number 1 our of 330,000,000 people to donate.

[Politicalboi]

2. I hope they sell those shares

Before it's too late.

[TBF]

3. Keeping the existing structure of inequality in place --

I kind of like Zuckerberg. He had an idea and went for it - and that is what folks are rewarded for in this country. But should we be relying on charitable giving or should we tax along the way so that we can redistribute? This is a very basic philosophical question that we ask and debate. A provocative article from the New Yorker posed that question in relation to Zuckerberg in a blog this week:


Does philanthropy by the most affluent among us make up for the negative consequences of inequality? This is a vexing question. Peter Buffett, Warren Buffett’s son, wrote in an op-ed for the Times last year:

As more lives and communities are destroyed by the system that creates vast amounts of wealth for the few, the more heroic it sounds to “give back.” It’s what I would call “conscience laundering”—feeling better about extreme wealth by sprinkling a little around as an act of charity.

But this just keeps the existing structure of inequality in place. The rich sleep better at night, while others get just enough to keep the pot from boiling over. Nearly every time someone feels better by doing good, on the other side the world (or street), someone else is further locked into a system that will not allow the true flourishing of his or her nature or the opportunity to live a joyful and fulfilled life ...


Read the entire piece here: http://www.newyorker.com/online/blogs/currency/2014/02/philanthropy-50-zuckerberg-carnegie-inequality.html

[handmade34]

5. "Keeping the existing structure of inequality in place"

charity is selfish and does little to create real change...

"I do not wish this redistribution of wealth to cease. Instead, I want it to be conducted by government. Rather than have the wealthy donate to charities, income and other taxes should generate the revenue to fund the services in question." Neil Levy, Against Philanthropy

[TomClash]

13. +1

Well said.

[madokie]

4. Isn't he the guy who renounced his citizenship so he wouldn't have to pay taxes

Best I remember he is

[CFLDem]

7. Wrong Facebook guy

[madokie]

8. Yes it was the wrong person, mybad

It was Eduardo Saverin

[Cha]

9. Another guy..

[madokie]

10. My bad, I google it and it was Eduardo Saverin

[Cha]

12. Thanks.. I was too lazy. :)

[CFLDem]

11. No sweat

[Agony]

6. Zuckerberger-Christie love fest.

http://www.salon.com/2013/01/25/the_zuckerberg_christie_love_fest/

Zuckerberg would love to kill public schools and teachers unions.

"When Facebook spokesperson Sarah Feinberg says that "Zuckerberg and Chan admire Christie's leadership on education reform and other issues and look forward to continuing their important work together on behalf of Newark’s schoolchildren," she may actually be telling the truth."

...proves the negative correlation between wealth and intelligence.