|
|
The Zuckerbergs give it all away (well 99%)
12-01-2015, 03:07 PM
|
#1
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,200
|
The Zuckerbergs give it all away (well 99%)
https://www.facebook.com/notes/mark-...53375081581634
Quote:
Originally Posted by A Letter to our Daughter
Our hopes for your generation focus on two ideas: advancing human potential and promoting equality.
Advancing human potential is about pushing the boundaries on how great a human life can be.
Promoting equality is about making sure everyone has access to these opportunities -- regardless of the nation, families or circumstances they are born into.
We will give 99% of our Facebook shares -- currently about $45 billion -- during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others.
|
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
12-01-2015, 03:20 PM
|
#2
|
Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
|
Good for them (truly), but it still leaves them (daughter on inheritance) with close to $500 million. Just saying...
|
|
|
12-01-2015, 03:22 PM
|
#3
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2011
Posts: 8,359
|
Quote:
Originally Posted by LARS
Good for them (truly), but it still leaves them (daughter on inheritance) with close to $500 million. Just saying...
|
+1 and I don't expect to see their daughter on this forum in 30-40 years with 'can I retire?' questions.
__________________
Living well is the best revenge!
Retired @ 52 in 2005
|
|
|
12-01-2015, 03:43 PM
|
#4
|
Full time employment: Posting here.
Join Date: Mar 2011
Posts: 534
|
Good for them!
|
|
|
12-01-2015, 05:48 PM
|
#5
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,863
|
Might be a good idea to diversify 10 or 20 billion dollars worth of those shares if he's going to hold them for a while.
|
|
|
12-01-2015, 06:05 PM
|
#6
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,005
|
Trying not to be cynical here but he said within our lifetimes, and he is still really young.
Figure sometime Facebook will start to pay dividends. Even if he does end up giving away 99% of the shares over the next 50 years, he will probably make about 20 billion in dividends before those last shares are gone.
Look at Microsoft. Bill sells shares left and right for his charity and still has a crapload. Just one quarterly dividend from the shares he still has would set up any one of us for a lifetime.
|
|
|
12-01-2015, 06:16 PM
|
#7
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,263
|
Quote:
Originally Posted by Fermion
...Look at Microsoft. Bill sells shares left and right for his charity and still has a crapload. Just one quarterly dividend from the shares he still has would set up any one of us for a lifetime.
|
36 cents a share * 330 million shares would be $119 million... would set a whole bunch of us up for a lifetime.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
|
|
|
12-01-2015, 06:25 PM
|
#8
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Posts: 5,342
|
Gates and Buffet have said the same thing and they're still worth 10s of Billions so it's not like they are giving it all away anytime soon, just a little at a time.
|
|
|
12-01-2015, 07:21 PM
|
#9
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
|
I think he said he would give away a billion per year for next three years at least.
I wish I could give away tens of billions.
Although I just ran ******** yesterday and some scenarios ended with $10 million in median portfolio value when I'm in my 80's. Still a few dozen billion short of what Mark has I guess.
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (8, 13, and 15).
|
|
|
12-01-2015, 08:35 PM
|
#10
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2009
Posts: 9,343
|
Quote:
Originally Posted by Fermion
Trying not to be cynical here but he said within our lifetimes, and he is still really young.
Figure sometime Facebook will start to pay dividends. Even if he does end up giving away 99% of the shares over the next 50 years, he will probably make about 20 billion in dividends before those last shares are gone.
Look at Microsoft. Bill sells shares left and right for his charity and still has a crapload. Just one quarterly dividend from the shares he still has would set up any one of us for a lifetime.
|
Yes the money is staggering. Bill has twice as much money as our entire teachers state pension system has.
Sent from my iPad using Tapatalk
|
|
|
12-01-2015, 08:54 PM
|
#11
|
Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
|
He will give it away, but will still be rich beyond anyone's imagination.
If he really wants to make a statement, he should really give it all away. He will live on a billion a year, and them claim someone making $100K a year should pay more taxes.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
|
|
|
12-01-2015, 08:57 PM
|
#12
|
Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,472
|
Quote:
Originally Posted by Fermion
Trying not to be cynical here but he said within our lifetimes, and he is still really young.
|
Oh! Very observant. I didn't notice that, and it's a good point. He didn't phrase it that way by accident.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
|
|
|
12-01-2015, 09:23 PM
|
#13
|
Thinks s/he gets paid by the post
Join Date: Apr 2012
Posts: 2,911
|
Quote:
Originally Posted by Fermion
Trying not to be cynical here but he said within our lifetimes, and he is still really young.
Figure sometime Facebook will start to pay dividends. Even if he does end up giving away 99% of the shares over the next 50 years, he will probably make about 20 billion in dividends before those last shares are gone.
Look at Microsoft. Bill sells shares left and right for his charity and still has a crapload. Just one quarterly dividend from the shares he still has would set up any one of us for a lifetime.
|
None of which negates the fact that the billions they will give away will do a lot of good for a lot of people.
|
|
|
12-01-2015, 09:56 PM
|
#14
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,005
|
Quote:
Originally Posted by Calico
None of which negates the fact that the billions they will give away will do a lot of good for a lot of people.
|
Sure, maybe it will. A person dropping a $10 bill into a Salvation Army bucket though has likely made a greater sacrifice and yet gets no front page news article.
|
|
|
12-02-2015, 01:34 AM
|
#15
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
|
Good for them, I say. They didn't have to give anything away, and they can do a lot of good. If they structure their donations well, they should save themselves a bundle in taxes, too.
|
|
|
12-02-2015, 04:37 AM
|
#16
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,200
|
Amazing cynicism. They don't have to give anything, and it will amount to billions, but that's not a sacrifice worthy of note?
Quote:
Originally Posted by Fermion
A person dropping a $10 bill into a Salvation Army bucket though has likely made a greater sacrifice.
|
How do you figure?
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
|
|
|
12-02-2015, 04:39 AM
|
#17
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
|
Quote:
Originally Posted by Fermion
Sure, maybe it will. A person dropping a $10 bill into a Salvation Army bucket though has likely made a greater sacrifice and yet gets no front page news article.
|
Maybe. maybe not... but an average person dropping a sawbuck into a Salvation Army kettle is not news, for three reasons: (a) the donor is likely not famous and newsworthy; (b) the amount does not make the news and (c) it probably happens a thousand times a day across the country.
I think it is pretty sad that there is so much cynicism about this.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
|
|
|
12-02-2015, 05:08 AM
|
#18
|
Thinks s/he gets paid by the post
Join Date: Nov 2009
Location: SF East Bay
Posts: 4,323
|
Quote:
Originally Posted by ziggy29
I think it is pretty sad that there is so much cynicism about this.
|
I just came across this thread and those were my thoughts too. Great business minds like Bill Gates and Mark Zuckerberg are not just giving their money to these causes. They are also bringing their influence, connections, and significant problem-solving skills. I welcome this.
Now, if we can get Elon Musk on board too, just think what can be achieved!
__________________
Contentedly ER, with 3 furry friends (now, sadly, 1).
Planning my escape to the wide open spaces in my campervan (with my remaining kitty, of course!)
On a mission to become the world's second most boring man.
|
|
|
12-02-2015, 05:25 AM
|
#19
|
Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
|
Quote:
Originally Posted by Calico
None of which negates the fact that the billions they will give away will do a lot of good for a lot of people.
|
That is all true. They said they will give away FB stock, not cash. They get the stepped up basis for a stock donation, and likely pay NO income tax on their real earnings the rest of their lives. Just a little bit a year to cover their $1B in income that they will receive. I am sure their cost basis of the stock is near $0.
There is more to it than charity.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
|
|
|
12-02-2015, 05:25 AM
|
#20
|
Recycles dryer sheets
Join Date: Mar 2014
Location: .
Posts: 382
|
+1 Ziggy and Major Tom. Who on this board is going to give away 99% of his/her assets during their lifetime? Maybe three of us will leave everything to charity, but that will likely be when our lifetimes are over. Philanthropy may be driven by generosity or by a less-generous desire for fame or a tax benefit -- but it still spreads the wealth and helps make the world a better place.
__________________
“We always may be what we might have been.” -- Adelaide Anne Procter
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|