Facebook's Zuckerberg pledges to give away wealth

Comcast ^ | 12-9-10 | BARBARA ORTUTAY

[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.

[Personal Responsibility]

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

[KoRn]

Good for him, and the rest of them.

Now leave the rest of us the hell alone.

[relictele]

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.

[WinOne4TheGipper]

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

[Huskrrrr]

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

Yes, wealth is disease and I am the cure!

[No Left Turn]

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

[InvisibleChurch]

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

[hoyt-clagwell]

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.

[madprof98]

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.

[freekitty]

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.

[pburgh01]

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.

[Raider Sam]

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.

[BookmanTheJanitor]

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.

[dennisw]

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

[dennisw]

At 26, Zuckerberg>>>>>>

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

[pepperdog]

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?

[Myrddin]

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.

[Ramius]

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.

[Global2010]

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