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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsZuckerberg Donates $992 Million To Charity That Funds Planned Parenthood
Nice to see some of his money being donated to good causes -- and it will be interesting to see if the fundies now decide to boycott Facebook --
Zuckerberg Donates $992 Million To Charity That Funds Planned Parenthood
February 12, 2014
The anti-choice site, Life News, reported that Facebook co-founder, Mark Zuckerberg, and his wife, pediatrician Priscilla Chan, donated 18 million shares of Facebook valued at $992 million to the Silicon Valley Community Foundation (SVCF) in Mountain View, California in 2013. The couple previously donated 19 million Facebook shares to the same foundation in 2012.
SVCF describes itself as a comprehensive center of philanthropy. They partner with donors to fund for profit and non-profit organizations around the world. The anti-choice site noted there are many words that describe the values of the foundation but the one they focused in on was collaboration. Planned Parenthood was pointed out as one of the organizations that benefit from donations.
http://samuel-warde.com/2014/02/zuckerberg-donates-992-million-charity-funds-planned-parenthood/
iandhr
(6,852 posts)I'm not crazy about so much money in so few hands, but at least he's doing something positive with his wealth.
LiberalAndProud
(12,799 posts)Maybe I'll send a couple $ myself, as a token of my appreciation.
This is a Good Thing. </MarthaStewartVoice>
iandhr
(6,852 posts)freshwest
(53,661 posts)TBF
(32,064 posts)1 - old school republicans who, as you say, are greedy fucks and don't want to pay their price at being part of society (taxes) - Jeb Bush et al
2 - freaky fundy folks - who think they can use their bibles to control everything around them (not to be confused with folks who are simply religious and/or spiritual) - Ted Cruz et al
I was thinking of the 2nd group but agree that the first group is still very powerful.
penultimate
(1,110 posts)He could have bought a B-2 bomber instead.... Which is actually more in line with what I'd expect from an evil evil evil evil person like Mr. Zuckerberg.
TBF
(32,064 posts)as opposed to the individual. But yes at least he gives to progressive causes which is quite unlike the evil Koch crooks.
yeoman6987
(14,449 posts)He gave the most money of any American. I hardly believe he is evil. Smart as hell. Ingenius as heck. Evil .no way.
PowerToThePeople
(9,610 posts)The donated paper. In order to get cash, the charity has to sell the paper into the market. Doing so puts downward pressure on the price of the paper (already 105:1 P/E ratio). Certainly still a great thing to do, just saying it is not as grand as the headline seems to try to portray.
hobbit709
(41,694 posts)PowerToThePeople
(9,610 posts)It is very likely that FB will go to zero. It is just a matter of time.
I am sure they will get quite a lot of cash out of the donation. I just think the headline is kind of grand standing, in so much as it wasn't 992 million in cash.
former9thward
(32,020 posts)He will get at least $450 million in reduced taxes so his balance sheet "loses" about $500 million -- if that depending on how his accountants structured the donation.
A HERETIC I AM
(24,370 posts)Data entries.
And you are absolutely correct. I was going to post the same basic idea before I read yours. The charity had better be able to liquidate at or near the current price to get that $992 mil.
Facebook share price from Yahoo Finance
PowerToThePeople
(9,610 posts)I had some paper shares of a Company back in the 90s. I sent them to Ameritrade to open an account with them way back when. Now it is all data entries in a computer. Same with bank deposits. Not sure how I feel about that. I have been moving more of my ever decreasing worth over to "real" assets. They are not as simple to liquidate, which in some ways is a plus to retaining they worth stored in them.
TBF
(32,064 posts)Facebook seems pretty stable. They've done a good job keeping average Americans interested in it (not trying too hard to keep teenagers - which is actually smart because teens don't have as much money as their parents). But yes they have to think about how/when to liquidate.
clarice
(5,504 posts)TBF
(32,064 posts)as Planned Parenthood provides health care to women. Do you have a problem with Planned Parenthood?
clarice
(5,504 posts)hughee99
(16,113 posts)clarice
(5,504 posts)hughee99
(16,113 posts)clarice
(5,504 posts)That money to buy families health insurance is more of an "immediate" need.
hughee99
(16,113 posts)isn't that a more immediate need than people who don't have health insurance? And given that he donated to an organization that donates to planned parenthood, maybe some of it will be paying for families health insurance.
HappyMe
(20,277 posts)clarice
(5,504 posts)That money would have bought a lot of food.
Ilsa
(61,695 posts)can always find a "better" charity for you to send your money to.
"Church? You gave your money to your church? What's wrong with you?"
"You gave $ to a political candidate? What were you thinking?"
Why do you have to second guess his donation? Obviously he feels this is a need that no one else is addressing.
clarice
(5,504 posts)Because this is America......something about that 2nd ammendment thing
clarice
(5,504 posts)It's his money.
clarice
(5,504 posts)Ilsa
(61,695 posts)You said 2nd Amendment.
clarice
(5,504 posts)penultimate
(1,110 posts)TBF
(32,064 posts)how is "families" health insurance more important that a woman's health care? That's what Planned Parenthood provides - health care for women. I would think the need for health care for all would be equal.
clarice
(5,504 posts)Please don't be one of the "CO" group. (constantly offended)
TBF
(32,064 posts)I'm obviously not understanding what you said. I'm not offended, just surprised by your remarks as folks on DU are usually supportive of Planned Parenthood and the health care it provides for women.
JTFrog
(14,274 posts)Funny how folks never really think of it that way. Wasn't gonna say anything, but "CO" group? Yea, that's offensive too.
joeglow3
(6,228 posts)versus how much will end up in some executive's hands? I hate these kind of multi-layer charitable organizations. Now, instead of funding one layer of admin costs, you get to fund two or more layers.
hughee99
(16,113 posts)worth of Facebook shares to various charities, I'm not sure you wouldn't end up with a significant loss rate anyway.
Ilsa
(61,695 posts)Many mothers and their teen daughters will gain benefit from PP's preventive care, pap smears, breast exams, and sex education. Sure, it isn't the only healthcare they might need, but it usually is the predominant area of care needed for this population.
clarice
(5,504 posts)I am NOT opposed to PP...I am A WOMAN for F____k's sake.
Give it a rest !!!!
mucifer
(23,549 posts)I really can't look beyond that because of how greedy he is in general .
Romulox
(25,960 posts)TBF
(32,064 posts)each individual needs) - is it greed or is it the system that encourages it? That is what I would encourage folks to think about.
Zuckerberg's just a symptom of a very big problem. We (meaning wealthy adults) give money to charity because it makes us feel better & gives us tax breaks. That's why Zuckerberg gives just like anyone else.
Wouldn't it be better if the we had a more equitable economic system to start with - so there wouldn't be a need for charity?
penultimate
(1,110 posts)unblock
(52,253 posts)Hekate
(90,714 posts)Here's the link to what this organization is and does: http://www.siliconvalleycf.org/
If someone gave me nearly a billion dollars I think I could find it in my heart to say Thank You rather than spitting in their eye.
TBF
(32,064 posts)while I tend to be further left and see you as more pragmatic, I originally posted this as a "yay, Mark Zuckerberg did something good with his money!" type of OP. I didn't mean to get into the extraneous topics but so far I have seen greed, income inequality and Planned Parenthood as the recipient being questioned. Much more than I intended with this, but that's ok.
ZombieHorde
(29,047 posts)TBF
(32,064 posts)flamingdem
(39,313 posts)Looks like he knows what time it is, great PR for him.
ladjf
(17,320 posts)Dawson Leery
(19,348 posts)have the good sense to donate to worthy causes. (unlike the Kochs and Adelson who use their billions to reshape the government to protect their monopolies).