I won’t lie, the first thing that came to mind after reading this was “ahhhhh what about the child now?” I know people like Warren Buffet and Bill gates donate fortunes for charity, but giving away 99% of your shares or the equivalent in dollars is a huge sacrifice. After calculating what 1% of $45.8bn would amount to, I realised $458m is still a lot of money to spend and turn over. But this 99% will be spent and spread over his lifetime so yea, Mr. Zuckerberg and his baby girl will be more than okay
So another thought occurred to me, is he trying to avoid paying tax? Since there’s always a tax incentive for giving away money under a registered foundation… I would like to know what credits he’s getting, Probably enough for him to remain extremely rich due to tax free income from other sources. Dont judge me guys, I’m just thinking aloud
How many Nigerians/Africans would do this? I read somewhere that since entrepreneurs are very competitive, this move will motivate them to also do like wise…hehehehehehe (I’m laughing in Dutch) this may only apply to rich white people. Here, no one is that competitive. You give away 99% of your money to charity, who knows the new regulations the government will announce that will leave you spending only the remaining 1% slowly for the remainder of your life? Nah, aint nobody got time for that kind of competition
All jokes aside, I don’t care what the hidden financial or PR reasons there may be for this donation, it is always better to give than to receive, plus Zuckerberg is wise and generous enough to know that he has more money than he could ever spend in his lifetime, so why not help as much people as he can while he’s alive?
Who really wants to be the richest dead person anyway? Kudos to him!!!