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Facebook's Zuckerberg pledges to give away wealth
Comcast ^ | 12-9-10 | BARBARA ORTUTAY

Posted on 12/09/2010 5:12:45 PM PST by mlizzy

NEW YORK — Another 17 of America's richest people, including Facebook CEO Mark Zuckerberg, junk bond pioneer Michael Milken and AOL co-founder Steve Case, have promised to give away most of their wealth.

At 26, Zuckerberg has put himself on the map not only as one of the world's youngest billionaires, but also as a prominent newcomer to the world of philanthropy. Earlier this year, he pledged $100 million over five years to the Newark, N.J. school system. Now, he's in the company of media titans Carl Icahn, 74, Barry Diller, 68, and others who have joined Giving Pledge, an effort led by Microsoft founder Bill Gates and investor Warren Buffett to commit the country's wealthiest people to step up their charitable donations.

(Excerpt) Read more at comcast.net ...


TOPICS: Business/Economy
KEYWORDS: barrydiller; billgates; carlicahn; facebook; getajob; givingpledge; markzuckerberg; michaelmilken; stevecase; tryworkingforaliving; warrenbuffett
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1 posted on 12/09/2010 5:12:48 PM PST by mlizzy
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To: mlizzy

It’s their money. More power to them if that’s what they want to do.


2 posted on 12/09/2010 5:15:47 PM PST by Personal Responsibility (The more the plans fail the more the planners plan - Ronald Reagan)
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To: mlizzy

Good for him, and the rest of them.

Now leave the rest of us the hell alone.


3 posted on 12/09/2010 5:16:04 PM PST by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: mlizzy

Pledge? Whatever.

Take a photo of the check(s) when they are written out and signed.

Until then drop the PR BS and the guilt trips.


4 posted on 12/09/2010 5:16:35 PM PST by relictele
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To: mlizzy

I’d be more than happy to take a couple million off his hands.:)


5 posted on 12/09/2010 5:17:04 PM PST by WinOne4TheGipper (Truman: The buck stops here. Obama: Buck? What buck? Did I tell you how it's all Bush's fault?)
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To: WinOne4TheGipper

“I’d be more than happy to take a couple million off his hands.:)”

Yes, wealth is disease and I am the cure!


6 posted on 12/09/2010 5:19:41 PM PST by Huskrrrr
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To: mlizzy

Hey, how does Warren Buffet give away all his money and still appear on Fortune’s list of wealthiest humans. Just wondering.


7 posted on 12/09/2010 5:21:33 PM PST by No Left Turn
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To: mlizzy

$100000000 to the NJ schools? If he wants to waste his money then just give it to the Kardashian girls.


8 posted on 12/09/2010 5:21:57 PM PST by InvisibleChurch (Stimulus ~ Response / "...and that's why the color yellow makes me sad, I think.")
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To: mlizzy
I've never seen the fascination of having this much money...being a billionaire. Probably why they want to give it away. You can buy anything you want with 100 million for the most part. Owning more than $100-200 million..really what is the point?

InB4 I'm called a commie. I'm not. I look at stuff like this differently I guess.

9 posted on 12/09/2010 5:22:11 PM PST by hoyt-clagwell (5:00 AM Gym Crew Jerking Iron.....)
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To: KoRn
Good for him, and the rest of them.

I understand Buffett spends his money promoting abortion. Not so good for him or the dead babies.

10 posted on 12/09/2010 5:25:27 PM PST by madprof98 ("moritur et ridet" - salvianus)
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To: mlizzy

As long as they don’t tell us what to do or try to implement one of their plans one of which is zero population which some of these billionaires seem to be fond of.


11 posted on 12/09/2010 5:25:35 PM PST by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: WinOne4TheGipper

These robber barons like Buffet and Gates setup these foundations like the Carnegies and Rockefellers a hundred years ago for the tax shelter. It’s also a great way to by proxy funnel money to G*dless crap like forced immunizations, population control and climate change nonsense.


12 posted on 12/09/2010 5:27:03 PM PST by pburgh01
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To: hoyt-clagwell

In some respects, the Bible agrees with you. The only reason to be a multi billionaire is to buy a sports team.

If I had enough money, I would personally pay off the debt just so it wouldnt be a political issue anymore. Right now, our country’s financial well being is just a tool to get elected. No one (maybe 10 congressmen) want to attack it because it is better as an issue to attack your opponent.


13 posted on 12/09/2010 5:29:09 PM PST by Raider Sam (They're on our left, right, front, and back. They aint gettin away this time!)
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To: relictele
Pledge? Whatever.

No kidding. There was a family at our kid's school that pledged 1 million dollars to the school. The school had a big write up on their web site and the husband & wife gladly took "congratulations" from everyone. Only problem...they never gave the money.

14 posted on 12/09/2010 5:30:14 PM PST by BookmanTheJanitor
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To: mlizzy

All these BS pledges to give away billions are dismaying. If I’m real rich I am going to be running a family business and family dynasty that endures. You go to Germany, other places in Europe and Asia and rich people still do this. Sure give away some millions and billions (I guess) but still you want that core family business that endures for as many generations as possible

And you sure don’t blow your billions the way the Bill Gates Foundation does. What’s the point? Gates made billions and now he squanders them with what his wife wants being a very big factor. The liberal BS they pour money into...much of it is his wife’s ideas


15 posted on 12/09/2010 5:30:33 PM PST by dennisw (- - - -He who does not economize will have to agonize - - - - - Confucius)
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To: mlizzy

At 26, Zuckerberg>>>>>>

Zuckie won’t be dead for decades...Thus plenty of time to renege on this laughable pledge


16 posted on 12/09/2010 5:32:27 PM PST by dennisw (- - - -He who does not economize will have to agonize - - - - - Confucius)
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To: Personal Responsibility
I keep reading about these generous millionaires, but I don't see the results of their generosity. They supposedly have given millions to something or someone, or is this just talk...anyone have some examples? Did it even happen or is it still in the "planning" stages?
17 posted on 12/09/2010 5:33:24 PM PST by pepperdog (Why are Democrats Afraid of a Voter ID Law?)
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To: hoyt-clagwell
Charitable deductions offset taxable income. Some financial managers will sell poorly performing stock for the express purpose of taking losses to offset gains. Again, to reduce taxable income. The charitable giving gives them good philanthropic PR. Passive income (rents, royalties, interest, dividends) aren't subject to payroll taxes, but do count as taxable income. Other accounting games include taking a depreciation expense to offset taxable income. When you have that much money, you can afford accountants and lawyers to manage and protect it.
18 posted on 12/09/2010 5:34:38 PM PST by Myrddin
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To: hoyt-clagwell

No... not a commie. Just satisfied is all.

There was an interesting interview with Bill Gates long ago, and he was asked a question like “what surprised you the most about becoming so wealthy?”... and the answer was revealing. He said that in some ways it takes all the fun out of wanting stuff. When there is nothing in the world that you can’t afford— that anything you think of you can have, and right now— there’s no anticipation. Things lose their “value” to you. You could buy and throw away a new Ferrari every day. None of them are special to you.

I thought it was an interesting insight.


19 posted on 12/09/2010 5:35:30 PM PST by Ramius (Personally, I give us... one chance in three. More tea?)
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To: mlizzy

WILL US SIMPLE PEASENTS BE CALLED TO REDISTRIBUTE OUR FEW COINS TOO? /SARCASM KIND OF


20 posted on 12/09/2010 5:36:24 PM PST by Global2010 (I AM NOT YELLING HAVING VISUAL ISSUES. SOMEDAYS ARE BETTER THAN OTHERS. K?)
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To: Myrddin

It’s not always so purely cynical. Pretty much all the super-wealthy have eventually turned to philanthropy... especially in their later years. Ford, Annenberg, Carnegie, Gates... they all eventually seem to go that way.


21 posted on 12/09/2010 5:39:29 PM PST by Ramius (Personally, I give us... one chance in three. More tea?)
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To: relictele

That’s the thing FOX news brought up that this in not a legal binding contract and none of these guys have to say how much, where to and proof of where they give money too.

Which makes this “giving away money show” suspect as in teaching the US citizens how to redistribute their personal income 101.


22 posted on 12/09/2010 5:41:18 PM PST by Global2010 (I AM NOT YELLING HAVING VISUAL ISSUES. SOMEDAYS ARE BETTER THAN OTHERS. K?)
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To: hoyt-clagwell

I’m actually kinda with you. I wouldn’t mind being wealthy or even “rich”. I hope someday to earn enough to be at least very very comfortable. But at some point, I think a fortune would reach the point that it takes on a life of its own. I would have to spend so much time keeping it managed (and keeping an eye on the people that are supposed to be helping me manage it) and whatnot that I’d cease to enjoy the benefits. The billions I owned would end up owning me, so to speak.


23 posted on 12/09/2010 5:42:25 PM PST by DemforBush (If I ever get back my blue jeans...Lord, how happy could one man be?)
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To: mlizzy
Earlier this year, he pledged $100 million over five years to the Newark, N.J. school system

What an absolute colossal waste.

24 posted on 12/09/2010 5:43:29 PM PST by libh8er
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To: InvisibleChurch
$100000000 to the NJ schools? If he wants to waste his money then just give it to the Kardashian girls.

Having worked for a public school I can say that this would
be shoving it down a rat hole. He should start a private
school that's worth a damn or give scholarships to worthy
recipients.

25 posted on 12/09/2010 5:54:05 PM PST by CrazyIvan (What's "My Struggle" in Kenyan?)
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To: Ramius; DemforBush

Both great points and what I believe as well.


26 posted on 12/09/2010 5:55:14 PM PST by hoyt-clagwell (5:00 AM Gym Crew Jerking Iron.....)
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To: hoyt-clagwell

Well, most billionaire’s own the majority of their wealth in the form of stock in their company - whether that company be Micro$oft, Facebook, or whatever. It’s not like all that cash is just sitting in a checking account somewhere.


27 posted on 12/09/2010 6:05:54 PM PST by eclecticEel (Life, Liberty, and the Pursuit of Happiness: 7/4/1776 - 3/21/2010)
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To: Ramius
There was an interesting interview with Bill Gates long ago, and he was asked a question like “what surprised you the most about becoming so wealthy?”...

Johnny Carson took an audience question asking what's the best thing about being rich. He said it's not having to worry about paying the bills.

28 posted on 12/09/2010 6:06:05 PM PST by decimon
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To: hoyt-clagwell

We’ve got a guy that lives down the street that was a billionaire for a while (it fluctuates). He’s divorced, has this giant beautiful home to himself that he almost never lives in (maybe a few days out of the month) in addition to an empty lot next to it that he bought up. His sidewalks have lines running under them so when it snows, the bricks heat up (or however it works), so here’s this guy that almost never lives there, but his walks are completely bare when it snows, and everyone else (of a much more modest income) is outside operating their snowblowers or shovels. Somehow, it’s amusing to me. Different lifestyle is all, I guess. :)


29 posted on 12/09/2010 6:06:39 PM PST by mlizzy (Hail Mary, full of grace, the Lord is with thee ...)
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To: dennisw

And you sure don’t blow your billions the way the Bill Gates Foundation does.


They might blow some bucks on things we don’t admire, but the Gates foundation is reportedly one of the smartest around. Witness their hundreds of millions to Rotary International to eradicate polio.

What I know best of them causes me to salute them.


30 posted on 12/09/2010 6:10:39 PM PST by Atlas Sneezed ("If you touch my junk, I'm gonna have you arrested.")
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To: decimon
Johnny Carson took an audience question asking what's the best thing about being rich. He said it's not having to worry about paying the bills.
One of our relatives is quite wealthy, living in Malibu, etc. and so on. He went food shopping with us once, and my husband and I were deciding what to purchase pricewise, and he just looked at us and said, "Oh, I never look at prices, ever. If I want it, I put it in the cart." So after my mother passed away and left us some money, I told my husband I was going out to do some "Siefert" shopping.
31 posted on 12/09/2010 6:16:05 PM PST by mlizzy (Hail Mary, full of grace, the Lord is with thee ...)
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To: mlizzy

If I win the 1mil&1/2 from the Vermont Lottery I could send you a couple of bucks


32 posted on 12/09/2010 6:31:58 PM PST by MissDairyGoodnessVT ( JC Webster's fav words: "the boiling pits of sewage" roflmao)
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To: MissDairyGoodnessVT

Hey, you’re on!


33 posted on 12/09/2010 6:33:21 PM PST by mlizzy (Hail Mary, full of grace, the Lord is with thee ...)
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To: decimon
Johnny Carson took an audience question asking what's the best thing about being rich. He said it's not having to worry about paying the bills.

Well... I'm not wealthy (like them, anyway) but I already don't have to worry about paying the bills. That's a pretty low bar. :-)

34 posted on 12/09/2010 6:34:51 PM PST by Ramius (Personally, I give us... one chance in three. More tea?)
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To: Ramius
It’s not always so purely cynical. Pretty much all the super-wealthy have eventually turned to philanthropy... especially in their later years. Ford, Annenberg, Carnegie, Gates... they all eventually seem to go that way.

More to my own point: This is what puts the big lie to the worn-out liberal refrain that "the rich don't pay their fair share". Not only do "the rich" pay far MORE than a fair share in a lifetime of taxes... but they pretty much uniformly all end up turning to massive philanthropy projects. Not only are liberals idiots, but they're ungrateful idiots as well.

35 posted on 12/09/2010 6:39:54 PM PST by Ramius (Personally, I give us... one chance in three. More tea?)
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To: mlizzy

i bought one ticket for Sat nite! :D


36 posted on 12/09/2010 6:47:46 PM PST by MissDairyGoodnessVT ( JC Webster's fav words: "the boiling pits of sewage" roflmao)
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To: Personal Responsibility

These men ARE giving back - they created companies that hire citizens. They don’t need to back liberal ‘cause of the day’ crap...


37 posted on 12/09/2010 6:48:18 PM PST by GOPJ (Sharpton wants Limbaugh off the air- if you don't hate liberals yet, you're not paying attention.)
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To: MissDairyGoodnessVT

Good luck, and since I’m in the “cut,” even if ever so slightly, I’ll remember to offer up a little “lotto” prayer on your behalf ... :)


38 posted on 12/09/2010 6:56:33 PM PST by mlizzy (Hail Mary, full of grace, the Lord is with thee ...)
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To: libh8er

Zuckerberg would had been better off starting a non profit private school in Newark than throwing it down the NJ sewer.


39 posted on 12/09/2010 7:04:32 PM PST by MinorityRepublican
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To: GOPJ

Agreed. Enough of this white guilt.


40 posted on 12/09/2010 7:05:53 PM PST by MinorityRepublican
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To: Ramius

Most spiritual people think like that.They want nothing.That is in the sense that you can buy.They want nothing that you can feel and they want nothing except God.To be so empty is to be happy.What surprises me in all these people is they forget about God.May be they never learn about him.


41 posted on 12/09/2010 7:17:03 PM PST by fatima (Free Hugs Today :))
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To: mlizzy

it’s only me and my 12 keeds i think you could squeeze in on “the cut” :D


42 posted on 12/09/2010 7:22:23 PM PST by MissDairyGoodnessVT ( JC Webster's fav words: "the boiling pits of sewage" roflmao)
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To: MissDairyGoodnessVT

Really, you have twelve children?


43 posted on 12/09/2010 7:27:34 PM PST by mlizzy (Hail Mary, full of grace, the Lord is with thee ...)
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To: mlizzy

Dismaying is right. Edumacation, friends. Guilt trips. I went to a writer’s group meeting a couple of days ago and a young girl there said she was writing a memoir, and is depressed, having problems, she cares so much about “social justice”. At another group meeting this evening, another girl, beautiful bi-racial, unfortunately already engaged, is killing herself at a stressful job doing outside sales of office supplies, 100 miles a day driving, and doing it because the company sends all profits to good causes. Office supplies, i.e. polluting trash! It’s all part of the same guilt ridden story that the media the educators pound into our heads every day! Bill Gates has done more for the humanity before quitting his job than most politicians and religious leaders. Let rest around the pool and read Marcus Aurelius, instead of jetsetting around the world with mosquito nets. I for one hope that Larry Ellison remains a high living asshole!


44 posted on 12/09/2010 7:27:52 PM PST by Revolting cat! (Let us prey!)
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To: Beelzebubba

http://en.wikipedia.org/wiki/Bill_%26_Melinda_Gates_Foundation#Agricultural_Development

Gates Foundation donates 99% into a sinkhole. I read through the Wiki entry and that’s what I see


45 posted on 12/09/2010 7:42:31 PM PST by dennisw (- - - -He who does not economize will have to agonize - - - - - Confucius)
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To: mlizzy

all mah keeds.......all tweblfe of dem’ and i tol’dem’da same ‘ting-i’d gib dem’ “a coupla’ of bucks” in mah dikshonary a coupla’ means 2. :D


46 posted on 12/09/2010 7:50:14 PM PST by MissDairyGoodnessVT ( JC Webster's fav words: "the boiling pits of sewage" roflmao)
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To: fatima

>>Most spiritual people think like that>>

In my experience, people who refer to themselves as “spiritual”, have no religion at all.


47 posted on 12/09/2010 8:03:49 PM PST by MayfairFly ("Your total ignorance of that which you profess to teach merits the death penalty.")
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To: MayfairFly

Really,Why is that.


48 posted on 12/09/2010 8:14:34 PM PST by fatima (Free Hugs Today :))
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To: fatima

I can’t tell you how often I’ve heard someone say “I don’t practice any religion, but I’m very spiritual” Often, these people, who lead selfish, amoral lives persistently attack traditional religion, and never have anything positive to say for it. Of course, there are many very religious people who are also spiritual, but that’s not what I.m talking about here. I’m talking about Sinead O’Connor, Madonna, and countless other silly people who never fail to assure us that they are “spiritual”. Usually, my interpretation is that these people have rejected God, but their natural fear of eternal death prevents them from proclaiming a final and definitive rejection of the supernatural.


49 posted on 12/09/2010 9:02:32 PM PST by MayfairFly ("Your total ignorance of that which you profess to teach merits the death penalty.")
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To: MayfairFly

I answered as myself.God bless.Fatima


50 posted on 12/09/2010 9:18:46 PM PST by fatima (Free Hugs Today :))
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