Zuckerberg Donates $992 Million To Charity That Funds Planned Parenthood

[TBF]

Nice to see some of his money being donated to good causes -- and it will be interesting to see if the fundies now decide to boycott Facebook --


Zuckerberg Donates $992 Million To Charity That Funds Planned Parenthood

February 12, 2014

The anti-choice site, Life News, reported that Facebook co-founder, Mark Zuckerberg, and his wife, pediatrician Priscilla Chan, donated 18 million shares of Facebook valued at $992 million to the Silicon Valley Community Foundation (SVCF) in Mountain View, California in 2013. The couple previously donated 19 million Facebook shares to the same foundation in 2012.

SVCF describes itself as a “comprehensive center of philanthropy.” They partner with donors to fund for profit and non-profit organizations around the world. The anti-choice site noted there are many words that describe the values of the foundation but the one they focused in on was “collaboration.” Planned Parenthood was pointed out as one of the organizations that benefit from donations.

http://samuel-warde.com/2014/02/zuckerberg-donates-992-million-charity-funds-planned-parenthood/

[iandhr]

1. Credit where credit is do.

[TBF]

2. I hear you -

I'm not crazy about so much money in so few hands, but at least he's doing something positive with his wealth.

[LiberalAndProud]

12. It *is* due. Where can I send a thank you note?

Maybe I'll send a couple $ myself, as a token of my appreciation.

This is a Good Thing. </MarthaStewartVoice>

[iandhr]

14. I agree with you.

[freshwest]

3. The fundies will stay on FB. They love how Zuckerberg flipped the bird at the US to not pay taxes.

That's what they're really about.

[TBF]

4. There seem to be 2 groups -

1 - old school republicans who, as you say, are greedy fucks and don't want to pay their price at being part of society (taxes) - Jeb Bush et al

2 - freaky fundy folks - who think they can use their bibles to control everything around them (not to be confused with folks who are simply religious and/or spiritual) - Ted Cruz et al


I was thinking of the 2nd group but agree that the first group is still very powerful.

[penultimate]

5. That's a lot of money....

He could have bought a B-2 bomber instead.... Which is actually more in line with what I'd expect from an evil evil evil evil person like Mr. Zuckerberg.

[TBF]

6. Overall I fault the system

as opposed to the individual. But yes at least he gives to progressive causes which is quite unlike the evil Koch crooks.

[yeoman6987]

28. Evil?

He gave the most money of any American. I hardly believe he is evil. Smart as hell. Ingenius as heck. Evil….no way.

[PowerToThePeople]

7. They did not donate cash

The donated paper. In order to get cash, the charity has to sell the paper into the market. Doing so puts downward pressure on the price of the paper (already 105:1 P/E ratio). Certainly still a great thing to do, just saying it is not as grand as the headline seems to try to portray.

[hobbit709]

8. It's still not chump change.

[PowerToThePeople]

10. If they can unload it while it still has value

It is very likely that FB will go to zero. It is just a matter of time.

I am sure they will get quite a lot of cash out of the donation. I just think the headline is kind of grand standing, in so much as it wasn't 992 million in cash.

[former9thward]

15. Its not chump change but there is also a huge reduction in taxes.

He will get at least $450 million in reduced taxes so his balance sheet "loses" about $500 million -- if that depending on how his accountants structured the donation.

[A HERETIC I AM]

9. Not even paper.

Data entries.

And you are absolutely correct. I was going to post the same basic idea before I read yours. The charity had better be able to liquidate at or near the current price to get that $992 mil.


Facebook share price from Yahoo Finance

[PowerToThePeople]

11. True, just a data entry

I had some paper shares of a Company back in the 90s. I sent them to Ameritrade to open an account with them way back when. Now it is all data entries in a computer. Same with bank deposits. Not sure how I feel about that. I have been moving more of my ever decreasing worth over to "real" assets. They are not as simple to liquidate, which in some ways is a plus to retaining they worth stored in them.

[TBF]

13. Fair point -

Facebook seems pretty stable. They've done a good job keeping average Americans interested in it (not trying too hard to keep teenagers - which is actually smart because teens don't have as much money as their parents). But yes they have to think about how/when to liquidate.

[clarice]

16. That money could have bought healthcare for many many families. just sayin.nt

[TBF]

17. That's a very interesting comment

as Planned Parenthood provides health care to women. Do you have a problem with Planned Parenthood?

[clarice]

19. No, none at all.........nt

[hughee99]

18. Yes, if only organizations like planned parenthood provided health care. n/t

[clarice]

20. You know what I meant....why the snarky comments? nt

[hughee99]

21. It sounded like you were implying that the money was donated to an unworthy cause. n/t

[clarice]

22. I didn't mean that at all.....I just thought that using...

That money to buy families health insurance is more of an "immediate" need.

[hughee99]

25. There's people all over the world who don't have food,

isn't that a more immediate need than people who don't have health insurance? And given that he donated to an organization that donates to planned parenthood, maybe some of it will be paying for families health insurance.

[HappyMe]

29. No good deed goes unpunished.

[clarice]

32. You are correct

That money would have bought a lot of food.

[Ilsa]

42. No matter which charity you give money to, someone else

can always find a "better" charity for you to send your money to.

"Church? You gave your money to your church? What's wrong with you?"

"You gave $ to a political candidate? What were you thinking?"

Why do you have to second guess his donation? Obviously he feels this is a need that no one else is addressing.

[clarice]

44. Why do you have to second guess his donation?

Because this is America......something about that 2nd ammendment thing

[clarice]

45. oooops, meant 1st amendment. nt

[Ilsa]

46. Guns?

It's his money.

[clarice]

47. Got four of them. nt

[Ilsa]

48. I was asking: Why is contributing to PP a gun issue?

You said 2nd Amendment.

[clarice]

49. I corrected myself in the next post. nt

[penultimate]

50. What about his lawyers?

[TBF]

34. Women are in families too -

how is "families" health insurance more important that a woman's health care? That's what Planned Parenthood provides - health care for women. I would think the need for health care for all would be equal.

[clarice]

36. That is not what I said !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Please don't be one of the "CO" group. (constantly offended)

[TBF]

39. Maybe you could clarify -

I'm obviously not understanding what you said. I'm not offended, just surprised by your remarks as folks on DU are usually supportive of Planned Parenthood and the health care it provides for women.

[JTFrog]

40. Or maybe don't be offensive!

Funny how folks never really think of it that way. Wasn't gonna say anything, but "CO" group? Yea, that's offensive too.

[joeglow3]

24. How much of that money will directly impact those in need

versus how much will end up in some executive's hands? I hate these kind of multi-layer charitable organizations. Now, instead of funding one layer of admin costs, you get to fund two or more layers.

[hughee99]

26. While i agree on the overhead, if Zuckerberg were to take it on himself to distribute $1 billion

worth of Facebook shares to various charities, I'm not sure you wouldn't end up with a significant loss rate anyway.

[Ilsa]

41. It IS buying healthcare for many, many families.

Many mothers and their teen daughters will gain benefit from PP's preventive care, pap smears, breast exams, and sex education. Sure, it isn't the only healthcare they might need, but it usually is the predominant area of care needed for this population.

[clarice]

43. Ok...ONE MORE TIME...

I am NOT opposed to PP...I am A WOMAN for F____k's sake.
Give it a rest !!!!

[mucifer]

23. It's sick that that can even happen. No person should have that much money.

I really can't look beyond that because of how greedy he is in general .

[Romulox]

27. This is the real point. We live off of whatever the rich deign to give us, like a pet... nt

[TBF]

35. While I agree on theory (re how much money

each individual needs) - is it greed or is it the system that encourages it? That is what I would encourage folks to think about.

Zuckerberg's just a symptom of a very big problem. We (meaning wealthy adults) give money to charity because it makes us feel better & gives us tax breaks. That's why Zuckerberg gives just like anyone else.

Wouldn't it be better if the we had a more equitable economic system to start with - so there wouldn't be a need for charity?

[penultimate]

53. There is nothing greedier than giving away almost a billion dollars to charity... THAT PIG!

[unblock]

30. what, he couldn't find another $8 million in the sofa cushions?

[Hekate]

31. Some of the DU responses are amazingly churlish

Here's the link to what this organization is and does: http://www.siliconvalleycf.org/

If someone gave me nearly a billion dollars I think I could find it in my heart to say Thank You rather than spitting in their eye.

[TBF]

37. It's interesting Hekate -

while I tend to be further left and see you as more pragmatic, I originally posted this as a "yay, Mark Zuckerberg did something good with his money!" type of OP. I didn't mean to get into the extraneous topics but so far I have seen greed, income inequality and Planned Parenthood as the recipient being questioned. Much more than I intended with this, but that's ok.

[ZombieHorde]

33. Awesome! nt

[TBF]

38. Yes, I thought so too! :) nt

[flamingdem]

51. Good news!

Looks like he knows what time it is, great PR for him.

[ladjf]

52. Good man! More billionaires need to follow his example. nt

[Dawson Leery]

54. It is good to know that people with so much money

have the good sense to donate to worthy causes. (unlike the Kochs and Adelson who use their billions to reshape the government to protect their monopolies).