Event Summary : Mark Zuckerberg $45 Billion donation to charity


    Event Summary : Mark Zuckerberg $45 Billion donation to charity

  • 1 Mark said he will donate 99% of his shares

    Mark Zuckerberg announced that he will give 99% of his Facebook shares to charity throughout his lifetime. This is equivalent to about $45 Billion dollars.

  • 2 1 Billion per year for 3 years

    Mark Zuckerberg said he won't give more than 1 Billion dollars per year for the next 3 years following the announcement.  Mark said he made it this way because he wants to maintain the voting rights.

  • 3 He didn't create a charitable foundation

    Mark Zuckerberg has been criticized for not creating a charitable foundation to manage the donation but instead he created a limited liability company. See also how Mark Zuckerberg spends his money.

  • 4 Criticism

    Some people accused Mark Zuckerberg of creating the LLC company to evade taxes and make financially motivated investments. Mark Zuckerberg denied that in a Facebook post and said that no tax benefit will be gained..

  • 5 Where the money will go

    Mark Zuckerberg said that the money will be directed to personalized learning, curing disease, connecting people and building strong communities.

  • 6 Some people are skeptical

    Some people are still skeptical about the move as they are not really sure where the money will go or why Zuckerberg founded an LLC company.

  • 7 What an LLC can do

    According to the US law an LLC can invest in profitable companies and can take part in political lobbying. This was one reason Zuckerberg got criticized for the move. See also how mark Zuckerberg spends his day.