The Zuckerbergs give it all away (well 99%)

[kcowan]

There is also the club that Gates/Buffett solicit membership to. To qualify, you have to commit half your fortune to charity. This could eventually change the American image from a bunch of grasping capitalists.

 

[athena53]

I think it is pretty sad that there is so much cynicism about this.

I agree. One post I saw on FB was something like, "Oh, great, they're throwing it all to corrupt charities and it will be wasted". Some people won't be happy with anything the uber-rich do unless it involves a check written directly to them.


Warren Buffet, BTW, should be added to this list. He's given/will give huge amounts to The Gates Foundation because he trusts them to do good works with his money. While Gates, Buffet and Zuckerberg aren't exactly impoverishing themselves, it's heartening to see people who want to do good with their "excess" money instead of seeing how many houses they can own.

 

[Ronstar]

Quite impressive! Zuckerberg seems like the type that will put the $ to some great causes and do a lot of good.

 

[ponyboy]

I still cant figure out why everyone feels its necessary to pledge they are going to give away the majority of THEIR money! I guess cause said [Mod edit] that she was giving most of her wealth away...apparently every other rich person should do the same.

Its great when the ultra rich build schools, hospitals, donate to medical research to help out those less fortunate....but the bottom line is it is their money. They can do whatever they want with it. We shouldnt expect them to give it all away. And people shouldnt cry and complain when a billionaire buys a $500 million dollar yacht.

 

[Rosie]

This thread is fascinating. Not in a good way.

 

[Fermion]

Even after he gives away 99%, he will still never need to worry about healthcare, vacations, long term care, or any of the other myriad of things we discuss on here. IF you still have a billion or two left, times are not going to be hard.

It is a good thing he is doing but the amount of money should not make it a heroic, newsworthy event any more than the $10 in the bucket. It is likely the person who is putting $10 into the bucket DOES have to worry about paying for healthcare, which vacation if any they can afford, etc.

 

[ERD50]

...

I think it is pretty sad that there is so much cynicism about this.

I guess I don't see it as either cynicism or sad. It's just an observation.

It's true, isn't it, that people who are this rich and give away much of it, are still left with so much that they are still very, very, very rich? It isn't really a 'sacrifice'. In terms of sacrifice, $10 from most of us probably is more of a sacrifice than giving away billions, when that billions really means nothing to you. Some of us here go to some effort to save $10 on a purchase, but a muti-billionaire really won't miss even a majority of their money vanishing.

As others have said, for some of these people, it's just a counting game. Bragging rights to be near the top of the net worth list. But he is exchanging that for another set of bragging rights - the right to brag that he's being charitable. Notice that he didn't do this unannounced?

There's no judgment intended in my comments. He is free to keep it, spend it, give it away quietly or with fanfare, or any combination. I'm just calling it out for what it is. I think it's good that he's giving it away, but seriously, what else would he do with it?

JMO - ERD50

 

[Fermion]

I guess I don't see it as either cynicism or sad. It's just an observation.

It's true, isn't it, that people who are this rich and give away much of it, are still left with so much that they are still very, very, very rich? It isn't really a 'sacrifice'. In terms of sacrifice, $10 from most of us probably is more of a sacrifice than giving away billions, when that billions really means nothing to you. Some of us here go to some effort to save $10 on a purchase, but a muti-billionaire really won't miss even a majority of their money vanishing.

+1 Someone gets what I was trying to say.

Now Zucker doesn't live a super high life to my knowledge. He drives a VW Golf. Still, I am guessing he flies first class instead of coach and probably does not stress over paying full price at the theater instead of waiting for the movie on DVD.

The past few years we donated well over $2000 to charity each year and yet I flew super saver coach to visit my parents even though I am 6'7" and was miserable on the flight. I can't find any news story touting my sacrifice though.

 

[Silver]

I still cant figure out why everyone feels its necessary to pledge they are going to give away the majority of THEIR money! I guess cause Oprah opened her fat mouth that she was giving most of her wealth away...apparently every other rich person should do the same.

Its great when the ultra rich build schools, hospitals, donate to medical research to help out those less fortunate....but the bottom line is it is their money. They can do whatever they want with it. We shouldnt expect them to give it all away. And people shouldnt cry and complain when a billionaire buys a $500 million dollar yacht.

The highlighting above is mine. I am not a fan of Oprah Winfrey...quite the opposite. But I am a fan of keeping this board clear of hate speak.

 

[ERD50]

The highlighting above is mine. I am not a fan of Oprah Winfrey...quite the opposite. But I am a fan of keeping this board clear of hate speak.

It's not a judgement, it's just an observation!

(I'm trying to be light-hearted about that, it's kind of riffing on my previous post)

-ERD50

 

[ponyboy]

The highlighting above is mine. I am not a fan of Oprah Winfrey...quite the opposite. But I am a fan of keeping this board clear of hate speak.

If I said something that wasnt accurate then I will apologize. Orpah had an entire campaign demanding ultra rich to donate all of their money. Its ridiculous. But, she has such a huge following that everyone agrees with her.

And about her mouth...youtube "oprah and the yelling goat" That about sums up my observation on her.

 

[Midpack]

This thread is fascinating. Not in a good way.

+1.

 

[ERD50]

+1 Someone gets what I was trying to say.

Now Zucker doesn't live a super high life to my knowledge. He drives a VW Golf. Still, I am guessing he flies first class instead of coach and probably does not stress over paying full price at the theater instead of waiting for the movie on DVD.

The past few years we donated well over $2000 to charity each year and yet I flew super saver coach to visit my parents even though I am 6'7" and was miserable on the flight. I can't find any news story touting my sacrifice though.

Since I love analogies, maybe this will help explain it to others, and I can work in your height reference:

Story #1: Let's imagine I'm walking down a city sidewalk, and some child is crying - their helium balloon is stuck in a tree. I try to help, but I can't reach the string either (I don't have the needed resources). I go into the store, buy a $100 ladder with cash, and retrieve the balloon for the child. Then I turn to the next homeless person I see, and give them the ladder and the receipt, and tell them they can keep the cash from the return.

Now that story might make the news as a nice human interest piece.

Story #2: Let's imagine that Fermion is walking down a city sidewalk, and some child is crying - their helium balloon is stuck in a tree. He can easily reach the balloon (he has the needed resources) and retrieves it for the child. Then Fermion goes home, and writes a $100 check to donate to the local homeless mission.

Now that story is not going to make the news as a nice human interest piece.

Why not? The end result was the same? But it was so easy for Fermion, it wasn't noteworthy. It took effort on my part. But this multi-billion donation from Z'berg really takes little/no effort either. It's still 'nice' of him - it's just not a big sacrifice is all.

-ERD50

 

[Silver]

If I said something that wasnt accurate then I will apologize. Orpah had an entire campaign demanding ultra rich to donate all of their money. Its ridiculous. But, she has such a huge following that everyone agrees with her.

And about her mouth...youtube "oprah and the yelling goat" That about sums up my observation on her.

I have lots of observations about people and their actions too. But I will always avoid disparaging comments to make my point. I have very rarely seen comments such as yours on this board, and I credit the maturity and intelligence of the moderators and most of the members for that.

 

[ERD50]

This thread is fascinating. Not in a good way.

+1.

And what's wrong? -ERD50

 

[ponyboy]

I have lots of observations about people and their actions too. But I will always avoid disparaging comments to make my point. I have very rarely seen comments such as yours on this board, and I credit the maturity and intelligence of the moderators and most of the members for that.

I understand. Some people have different ways of getting a point across. Ill keep that in mind for future comments.

Also...this forum doesnt have much activity in general. It seems to have a small following. Maybe thats why? Theres only the regulars and or users who have been here for a while. Im surprised how few new threads are started here...or how many new comments in general are posted. Guess I have to spend more time at bogleheads. Its too bad as im all about retiring early and was hoping to find a ton of info related to that.

 

[RunningBum]

I wasn't aware that charity giving has to be a sacrifice, and only sacrifices are news worthy events. Someone giving away tens of billions of dollars, even over 50 years, is news worthy.

 

[Fermion]

Also...this forum doesnt have much activity in general. It seems to have a small following. Maybe thats why? Theres only the regulars and or users who have been here for a while. Im surprised how few new threads are started here...or how many new comments in general are posted. Guess I have to spend more time at bogleheads. Its too bad as im all about retiring early and was hoping to find a ton of info related to that.

ER.org is much more lenient than Bogleheads in regard to content of posts. The mods here have even let threads run with a "hot topic" warning such that useful information can still be harvested from the chaff. But have fun over there. Say hi to Lady and her sack of padlocks.

 

[ERD50]

I wasn't aware that charity giving has to be a sacrifice, and only sacrifices are news worthy events. Someone giving away tens of billions of dollars, even over 50 years, is news worthy.

OK, I agree the amount makes it newsworthy.

-ERD50

 

[Slow But Steady]

Personally, I see nothing wrong with this thread. The comments that some have called cynical are really just jealousy, because none of us can even imagine what it would be like to have a billion dollars, much less 45 billion. Jealousy isn't that pretty, but it's perfectly understandable.

However, I do see that the Zuckerbergs have given something away. What they've given away is the opportunity to take that pile of money and build it into a pile that's a dozen times taller.

Instead, they've chosen to take that pile of money and use it in ways that will improve life on our planet. And if the publicity they get will encourage other billionaires to do the same, that's great.

 

[Which Roger]

This thread is fascinating. Not in a good way.

I find the negative comments disheartening and somewhat ironic. To me, such comments come across as the wealthy and privileged and "lucky" (which most of us are, relative to the general population) taking the opportunity to bash somebody who's even more wealthy and privileged and "lucky".

 

[HFWR]

Or maybe...

 

[Fermion]

I will admit I am jealous. I would love to have 30 billion dollars and be able to announce I am going to give away most of it by the time I am 90.

As a matter of fact, if someone wants to gofundme for something around that amount, I will go one step further and announce I will give away 99.5% of it over my lifetime. Instead, we will probably give away 100% of what we have left when we die, which will not be much at all at age 90.

I am much more impressed with someone like Prince Harry serving as a Apache helicopter pilot and going on rescue missions when they could easily just live a easy life of fame and luxury.

For all of the money Bill and Warren give away, they are still the richest men in the world. Neither one of them are working in a soup kitchen or anything.

 

[Nunthewiser]

Instead, they've chosen to take that pile of money and use it in ways that will improve life on our planet. And if the publicity they get will encourage other billionaires to do the same, that's great

.
Bingo!

As much as you and I try to help others with a few hundred bucks, if we can "shame" the folks who really can make a difference to do something on a massive scale, the world could be a far better place. There might be a lot fewer organizations like ISIS if that part of the world improved significantly.

 

[ponyboy]

.
if we can "shame" the folks who really can make a difference to do something on a massive scale

So they should be punished for being insanely successful? What kind of mentality is that? I love the new era of thinking. Im glad im still relatively young. I cant wait to see what direction humanity takes in the next decade...let alone 40 years from now.

Things like facebook and twitter allow everyone who never had a voice to now express themselves in a positive or negative way. Its quite fascinating. Gotta love the social justice warriors who flex their muscles behind a keyboard, lol. The worst part is people choose to gang up on insignificant matters...like the cecil the lion thing. Every day in the congo 5,000 children die from dirty water, 5,000 EVERY SINGLE DAY...and the social justice warriorS are concerned about a lion. A lion that not one single person in Africa cared about...thats the kicker. Do not anthropomorphize animals! Given the opportunity these cuddly lions, bears, hippos, chimps...would eat you!

Thank god im not a part of facebook, twitter, instagram, etc etc. I only know 2 people under the age of 35 who do not have facebook. Very interesting.