4 ms·

Forget the voting rights, last time I checked Zuckerberg's net worth it was about $10B. I remember being a critic of $FB when it was reaching the $19.00 mark af

by nevi-me 11y ago

Forget the voting rights, last time I checked Zuckerberg's net worth it was about $10B. I remember being a critic of $FB when it was reaching the $19.00 mark after listing. This is impressive! Hopefully he cedes control (majority voting rights) by selling a bit to diversify his wealth :)

onewaystreet 11y ago
Facebook's stock price has gone up a lot since you last checked. His net worth now is $44.6B (making him the 6th richest person in the world).
- tdicola 11y ago
  And almost all of it (99%) is going to charity: http://www.businessinsider.com/mark-zuckerberg-giving-away-99-of-his-facebook-shares-2015-12 http://www.businessinsider.com/mark-zuckerberg-giving-away-9...
  - majewsky 11y ago
    Well yeah, to the Chan Zuckerberg Initiative. Putting your money into your own foundation is a well-known tax evasion scheme.
    - adventured 11y ago
      In fact it's not a well known tax evasion scheme. The only thing well known about that, is the bogus claim that it is such. 1) Tax evasion, is not the same as tax avoidance. 2) Try putting money into a foundation, acquire the tax benefit of doing so, and then try giving it back to yourself. See what happens. 3) The Zuckerberg Chan Initiative is not a charitable foundation. It's a corporation, an LLC. Please explain how Zuckerberg will be using that to evade taxes. By law they will pay capital gains taxes upon any sale of the stock. How is that evading taxes? If they had wanted to limit taxes, they would have created a traditional foundation. The current structure gives Zuckerberg no added benefit over what he already has.
      - mac01021 11y ago
        > Tax evasion, is not the same as tax avoidance. I guess these are now universally accepted as technical terms with different meanings, but it really bothers me that two words which are completely synonymous in normal English have been redefined in a particular domain to refer to mutually exclusive things. That's all.
        odonnellryan 11y ago
        That's like 99% of legal terms.
henrikschroder 11y ago
> Hopefully he cedes control (majority voting rights) by selling a bit to diversify his wealth :) The whole point of this change is to allow him to sell almost all his stock without losing any voting rights. Did you even read the article?
- pc86 11y ago
  It seems most people commenting did not.

by nevi-me 11y ago

onewaystreet 11y ago

Facebook's stock price has gone up a lot since you last checked. His net worth now is $44.6B (making him the 6th richest person in the world).

tdicola 11y ago
And almost all of it (99%) is going to charity: http://www.businessinsider.com/mark-zuckerberg-giving-away-99-of-his-facebook-shares-2015-12 http://www.businessinsider.com/mark-zuckerberg-giving-away-9...
- majewsky 11y ago
  Well yeah, to the Chan Zuckerberg Initiative. Putting your money into your own foundation is a well-known tax evasion scheme.
  - adventured 11y ago
    In fact it's not a well known tax evasion scheme. The only thing well known about that, is the bogus claim that it is such. 1) Tax evasion, is not the same as tax avoidance. 2) Try putting money into a foundation, acquire the tax benefit of doing so, and then try giving it back to yourself. See what happens. 3) The Zuckerberg Chan Initiative is not a charitable foundation. It's a corporation, an LLC. Please explain how Zuckerberg will be using that to evade taxes. By law they will pay capital gains taxes upon any sale of the stock. How is that evading taxes? If they had wanted to limit taxes, they would have created a traditional foundation. The current structure gives Zuckerberg no added benefit over what he already has.
    - mac01021 11y ago
      > Tax evasion, is not the same as tax avoidance. I guess these are now universally accepted as technical terms with different meanings, but it really bothers me that two words which are completely synonymous in normal English have been redefined in a particular domain to refer to mutually exclusive things. That's all.
      - odonnellryan 11y ago
        That's like 99% of legal terms.

henrikschroder 11y ago

> Hopefully he cedes control (majority voting rights) by selling a bit to diversify his wealth :) The whole point of this change is to allow him to sell almost all his stock without losing any voting rights. Did you even read the article?

pc86 11y ago
It seems most people commenting did not.