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Facebook founder Mark Zuckerberg to give away 99% of shares
- Thread starter Wozza
- Start date
Beach Hut
Brighton Bhuna Boy
Bill and Melinda Gates do much the same, these people are incredibly generous with their wealth and should be highly commended for at at least using their power and wealth to try and change things.
I think Gates had donated billions to Africa and despite the reality it will take a generation minimum to change things at least he is making a great effort.
Perhaps modern day business barons may turn the tide and make the world a better place.
I think Gates had donated billions to Africa and despite the reality it will take a generation minimum to change things at least he is making a great effort.
Perhaps modern day business barons may turn the tide and make the world a better place.
Beach Hut
Brighton Bhuna Boy
Jesus, cut him some slack that is a lot of money
alfredmizen
Banned
- Mar 11, 2015
- 6,342
he'll still be left with £ 300,000,000
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 35,299
leaves him with £300m to get by on. alot of wealthy business do similar because essentially they've got nothing else to do with the vast wealth. cure malaria, build a electic car, turn an average football club into European Champions, they need a cause to get them up in the morning.
nicko31
Well-known member
Its a bizarre situation to be honest. Facebook manages to avoid tax around the world (albeit legally), and then this happens...
AlbionPics&SouthCoastTwit
New member
Don't be Zuckered!
GT49er
Well-known member
Where can I apply for a cause to get ME up in the morning?
OzMike
Well-known member
If he gave me enough shares so that I didn't have to work anymore to support my family, then I would dedicate my time to working for good causes full time.
The labouring, organising construction and getting things done side of things, not the counseling side of things.
The labouring, organising construction and getting things done side of things, not the counseling side of things.
KZNSeagull
Well-known member
What's bizarre to me is that the shares are worth so much when Facebook has hardly made a profit so far. But such is life. Hopefully the Twitter owners will do the same soon before their share price collapses.
He would help the people of the world if he paid his fair share of tax. Perhaps the donation to charity is to ease his guilty conscience!
Quite. We'd probably all be more philanthropic if we didn't pay tax.
Creaky
Well-known member
Income from gambling isn't taxable - is that why we have a super stadium
I'm not quite sure of the point you're trying to make here.
Thunder Bolt
Silly old bat
In the 60s when the top rate of tax in Britain was 95%, it's not as high as the 99% that he's giving away now.
It's very commendable, however, there are a couple of caveats. This is £30bn we're talking about. That will grow in value by, I'd say, a minimum of 5% per year? So that around £1.5bn.
His aim for the redistribution of this wealth is to donate £1bn per year.
Let's say he's making £1.5bn per year, his tax bill is around £.9bn, there would be huge benefits in tax relief if donating £1bn to charity.
Don't get me wrong it's very commendable but not quite giving away his wealth of £30bn, more like donating a £1bn a year for 30 years from profits outside of the core wealth. This also doesn't impact at all on his personal wealth pot, which was built up when he sold some of his shares last time.
Still much better than the vast majority of very wealthy people do though.
His aim for the redistribution of this wealth is to donate £1bn per year.
Let's say he's making £1.5bn per year, his tax bill is around £.9bn, there would be huge benefits in tax relief if donating £1bn to charity.
Don't get me wrong it's very commendable but not quite giving away his wealth of £30bn, more like donating a £1bn a year for 30 years from profits outside of the core wealth. This also doesn't impact at all on his personal wealth pot, which was built up when he sold some of his shares last time.
Still much better than the vast majority of very wealthy people do though.
jameswestport
New member
- Sep 7, 2011
- 927
The cynic in me thinks he'll invest a lot of it in profitable companies that share his ethos but still keep his money relatively safe.
willyfantastic
New member
- Mar 1, 2009
- 2,368
that the cynics believe he's only doing it because he doesnt pay tax. when it can be argued that tony bloom has done something similar.
its viewed differently because what tony bloom has done has benefited brighton, whereas they wouldnt see the benefits from what zuckerberg is donating to
Ernest
Stupid IDIOT
I'd prefer it if they paid the proper tax rates instead of stupid PR gimmicks