Mark Zuckerberg to give the majority of his wealth to charity

Facebook co-founder Mark Zuckerberg will join some of the world's richest families and individuals in giving the majority of his wealth to charitable causes.

Mr Zuckerberg was one of 17 new signatories to the Giving Pledge, a project created by investor Warren Buffett along with Bill and Melinda Gates. The pledge asks that each billionaire signatory commit to giving most of their wealth to philanthropic causes or charitable organisations either before or after their death.

In a statement, Mr Zuckerberg said there was no reason for people to wait until late in their careers to give back.

''Why wait when there is so much to be done? With a generation of younger folks who have thrived on the success of their companies, there is a big opportunity for many of us to give back earlier in our lifetime and see the impact of our philanthropic efforts,'' he said.

In September, Forbes estimated the 26-year-old's personal wealth at US$6.9 billion and placed him at number 40 on a list of the world's most powerful people. Around the same time, the young billionaire gave US$100 million to Newark's public schools, sparking accusations he was attempting to preempt negative publicity stemming from film The Social Network, which had only recently been released.

Mr Zuckerberg is joined in the Giving Pledge by a range of high-profile billionaires including New York Mayor Michael Bloomberg, Star Wars creator George Lucas and hotel heir Barron Hilton.

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36 Comments

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Yeah... I'm sorry. I don't give a crap what his motivations are. And I'm sure any of the people who benefit from his donations really aren't going to care what those motivations are either. The end result is really all that matters.
The movie is a great movie. I was thoroughly entertained. Don't know how accurate a portrayal it is and really don't care. Unless you know someone personally, you can only begin to guess at their motivations. I think he should be applauded for this. Period.

Well, scepticism is quite understandable. On the other hand... Did he REALLY give the money? Seems so. Can it be use then?? Well, can't see why it couldn't.
So why wouldn't we rather be positive about the FACT that a big sum of money can now be used where it is needed.
And why care so much about the guy's "real motives"??? Thank God he didn't assign me a watchman over people's motives! ...Yes I know what kind of world this is; but the worst impact it has upon us is just this: we get too ready to believe in people's wickedness, yet so loath to believe in their good will. And this is poisoning our own hearts and minds, causing to curse our own existence since nothing can be trusted.
But I prefer to simplify it: when you're hungry and somebody's feeding your family, do you care first about his motivation, and only THEN decide, whether or not to accept the help? If it is for free, why not just accept it and say thanks.

So I don't care about the guy's motives, and life will show what they are anyways. I unsubscribed from Facebook for it's a pure waste of time; yet I'm sure the money he donated can be used now for schools. OK! Fine!

I don't know the guy personally so I can't speak 100% for his motives, but often when a lot of money is given to charity, it's for the wrong reasons (tax breaks, PR, etc.).

Tha Bloo Monkee said,
I don't know the guy personally so I can't speak 100% for his motives, but often when a lot of money is given to charity, it's for the wrong reasons (tax breaks, PR, etc.).
More than likely

Much appreciated. For people who are saying this is a PR stunt, yeah it is. So what? The point here is that he used the right method i.e. helping the needy. Using the same argument you would say Robin Hood was a big show off?

There's a certain level, that once you reach, you stop caring about the price tags and the money in general.

Financial freedom is only the beginning. On this level, you can afford everything - all the luxury, the best yachts.

I applaud what Mark Z. has done, but, at the same time, I acknowledge that his lifestyle isn't going to change

good PR. the fact is these people just have too much money there's no way possible to spend on materialized things. maybe I can start a new company selling dark matter and dark energy. hha.

Beyond charity, billionaires and millionaires should cut the problem of poverty and ignorance by it's roots: promoting one or two child maximum per poor couple. In other words: they should first invest in research and lobby with a focus of decreasing the population of miserable and ignorant people, simply because there are not enough resources in Earth for them all.

Luis Mazza said,
Beyond charity, billionaires and millionaires should cut the problem of poverty and ignorance by it's roots: promoting one or two child maximum per poor couple. In other words: they should first invest in research and lobby with a focus of decreasing the population of miserable and ignorant people, simply because there are not enough resources in Earth for them all.

Which is to say that rich people don't have stupid kids or anything...

Davo said,

Which is to say that rich people don't have stupid kids or anything...

Actually, there will always be stupid people. But their parents will at least be able to raise their kids with much more opportunities and not relying on the government and public spendings.

Luis Mazza said,
Beyond charity, billionaires and millionaires should cut the problem of poverty and ignorance by it's roots: promoting one or two child maximum per poor couple. In other words: they should first invest in research and lobby with a focus of decreasing the population of miserable and ignorant people, simply because there are not enough resources in Earth for them all.

call China.

Glad he's sharing the wealth. While I do admire his success, being rich is just having money sitting there doing nothing

i11usive said,
Nice! A young man who has not allowed the money go to his head...good move!

BHAHAHAHA. You obviously know nothing about Zuckerberg.
Most likely he's "giving" to charity for a tax shelter or to fend off some kind of lawsuit.
The guy's a POS.

ahhell said,

BHAHAHAHA. You obviously know nothing about Zuckerberg.
Most likely he's "giving" to charity for a tax shelter or to fend off some kind of lawsuit.
The guy's a POS.

A dollar given to any charity is a dollar more than they had before. Giving the MAJORITY of his wealth will do some people some good. Say what you want about zuckerberg, but I can see him donating go a variety of charities.

ahhell said,

BHAHAHAHA. You obviously know nothing about Zuckerberg.
Most likely he's "giving" to charity for a tax shelter or to fend off some kind of lawsuit.
The guy's a POS.

And there it is, someone turning it into something bad, as mentioned before.

DirtyLarry said,
Did not realize he gave that money to Newark public schools, that is my birth place!

That donation made the news the world over. Everyone thought it was hush money because of the movie coming out This sort of puts the nail on the coffin of him just being charitable just to help his image because of a movie