Zuckerberg Giving Away 99% of His Facebook Shares

stoneill · 02-12-2015 08:37AM

$45,000,000,000. Gold pants for all!

Gaygooner · 02-12-2015 08:44AM

Fair play Mr Zucherberg.

Funny how we trust the tax man with other people's money! In Ireland it goes to Bondholders! Why would Facebook pay Corp Tax in the UK anyway?

Arbiter of Good Taste · 02-12-2015 09:00AM

gordongekko wrote: »

An astonishing gesture would be to pay a proper amount of tax on its corporate earnings.

In reality hes giving away money that should have gone to the tax man anyway to pay for schools etc.

According to the law, Facebook is paying the proper amount of tax. If you have a problem with the amount, then lobby to change the tax laws. Or do you think taxpayers should just volunteer to pay more than they are obliged? If so, then why don't you put your money where your mouth is?

inforfun · 02-12-2015 09:43AM

Oh great.
Another one who wants to keep every human being that is born alive for as long as possible.

If Gates' money keeps them alive, can Zuckerbergs money be used to feed them then?

Arbiter of Good Taste · 02-12-2015 09:58AM

inforfun wrote: »

Oh great.
Another one who wants to keep every human being that is born alive for as long as possible.

If Gates' money keeps them alive, can Zuckerbergs money be used to feed them then?

Actually it appears Zuckerberg will be donating quite a bit to Planned Parenthood which has quite the reputation for dealing in aborted babies body parts, so arguably not. But that's a topic for a different post.

pajero12 · 02-12-2015 09:59AM

gordongekko wrote: »

An astonishing gesture would be to pay a proper amount of tax on its corporate earnings.

In reality hes giving away money that should have gone to the tax man anyway to pay for schools etc.

He's not paying a proper amount of tax? Do the governing bodies know this? You can tell them if you want, You broke the story.
Those Revenue guys must be feeling pretty dumb now!

Arbiter of Good Taste · 02-12-2015 10:02AM

pajero12 wrote: »

He's not paying a proper amount of tax? Do the governing bodies know this? You can tell them if you want, You broke the story.
Those Revenue guys must be feeling pretty dumb now!

I always have a giggle at how people point the finger at the multinationals for not paying "enough" tax. These are not the ones evading tax - plcs have shareholders and regulators to answer to. If people are concerned about tax evasion, look to the homegrown, family owned businesses.

SEPT 23 1989 · 02-12-2015 10:14AM

Arbiter of Good Taste wrote: »

I always have a giggle at how people point the finger at the multinationals for not paying "enough" tax. These are not the ones evading tax - plcs have shareholders and regulators to answer to. If people are concerned about tax evasion, look to the homegrown, family owned businesses.

No very few family owned businesses set out to evade tax

gordongekko · 02-12-2015 10:19AM

Ellis Wailing Forearm wrote: »

Of course not. Except for this one guy, on a forum..

He is paying the proper amount though, or are you suggesting he's engaging in tax fraud?

The bastard!

somehow facebook in the uk managed to lose money? Paying appropriate taxes in each country would be better than a grand gesture of giving away this money instead.

c_man · 02-12-2015 10:22AM

gordongekko wrote: »

somehow facebook in the uk managed to lose money? Paying appropriate taxes in each country would be better than a grand gesture of giving away this money instead.

Nah, the same people moaning here would still be moaning. There's always something.

Sure I suppose Mark could just donate a straight £25 billion to fund Trident for the UK. It'd be a grand gesture for sure.

munchkin_utd · 02-12-2015 10:22AM

Thargor wrote: »

http://www.bbc.com/news/world-us-canada-34978249

45 billions worth apparently.

so essentially he reckons he can live on a little under 500million.

I dont think he'll be on the breadline somehow.

The One Doctor · 02-12-2015 10:29AM

paleoperson wrote: »

Anyone know why there are so many people of foreign ethnicities in Lidl?

I normally go to Dunnes, the level of foreign ethnicity in Lidl was really startling. I've noticed this before but this time it's as if I was in eastern europe. It seems weird if their brand loyalty or clubcard points from eastern europe are keeping them there.

Foreigners work harder. Simple.

Arbiter of Good Taste · 02-12-2015 10:31AM

SEPT 23 1989 wrote: »

No very few family owned businesses set out to evade tax

Not all of them do, but some do - personal expenses put through company accounts, cash payments under the table, failure to lodge correct VAT returns. I can immediately think of four examples - most which made the papers, one which did not. Public companies on the other hand just can't do that.

inforfun · 02-12-2015 10:34AM

The One Doctor wrote: »

Foreigners work harder. Simple.

I guess he/she meant shopping, not working.

Kev W · 02-12-2015 10:36AM

fleet_admiral wrote: »

Its too long to write Aldi/Lidl

tl:dr

P. Breathnach · 02-12-2015 11:49AM

Arbiter of Good Taste wrote: »

Actually it appears Zuckerberg will be donating quite a bit to Planned Parenthood which has quite the reputation for dealing in aborted babies body parts, so arguably not. But that's a topic for a different post.

So you fire in a politically-motivated untruth, one that quite possibly drove the recent shootings in Colorado, and then suggest that people here should not pick up on the point you make.

Laois_Man · 02-12-2015 12:02PM

This $45 Billion he's worth is only on paper and it's a snapshot in time (i.e. today). Zuckerberg is 31 years old. He's planning to donate it during the course of his and his wife's lifetime. By the time he's 50, the chances are that Facebook will be a distant memory from the past and whatever shares he'll still have in them are likely to be worth a lot less. Where did MySpace go? Less than 10 years ago, it was as big as Facebook is now....was sold for something like $600 Million and even at that, was a massive bargain at the time - it was worth a hell of a lot more. It has been murdered by Facebook in the social networking domain and also murdered by Spotify in the streaming domain - I'd love to know how much it's worth now!

NIMAN · 02-12-2015 12:06PM

I don't do FB and if the Social Network was anyway half accurate, I always thought that he came across as a bit of a git, but when I heard this news I had to think "well fair play to him".

Thargor · 02-12-2015 12:11PM

Laois_Man wrote: »

This $45 Billion he's worth is only on paper and it's a snapshot in time (i.e. today). Zuckerberg is 31 years old. He's planning to donate it during the course of his and his wife's lifetime. By the time he's 50, the chances are that Facebook will be a distant memory from the past and whatever shares he'll still have in them are likely to be worth a lot less. Where did MySpace go? Less than 10 years ago, it was as big as Facebook is now....was sold for something like $600 Million and even at that, was a massive bargain at the time - it was worth a hell of a lot more. It has been murdered by Facebook in the social networking domain and also murdered by Spotify in the streaming domain - I'd love to know how much it's worth now!

It really, really wasnt.

The answer to where did Myspace and Orku and all the rest go is that they lost, to Facebook, and now Facebook is entrenched for a generation or two. Bebo and the rest were never entrenched in peoples minds like Facebook is and definitely not to a level of one billion users and climbing. Even with something the size of Google forcing Google+ down peoples throats they still couldn't put a dent in Facebook. There isnt going to be a whole new social media site, the war is over and Facebook is the winner. If anything interesting comes along they'll either copy it or buy it. Predicting something will come along and destroy Facebook is like predicting something will come along and destroy Windows, it could happen but highly unlikely.

Sheeps · 02-12-2015 12:23PM

Laois_Man wrote: »

This $45 Billion he's worth is only on paper and it's a snapshot in time (i.e. today). Zuckerberg is 31 years old. He's planning to donate it during the course of his and his wife's lifetime. By the time he's 50, the chances are that Facebook will be a distant memory from the past and whatever shares he'll still have in them are likely to be worth a lot less. Where did MySpace go? Less than 10 years ago, it was as big as Facebook is now....was sold for something like $600 Million and even at that, was a massive bargain at the time - it was worth a hell of a lot more. It has been murdered by Facebook in the social networking domain and also murdered by Spotify in the streaming domain - I'd love to know how much it's worth now!

Facebook wont just disappear. They will and are branching out in to other domains. The direction they're going in the next 10 years is AI, Oculus Rift (which is the next big thing) and internet.org.

When they're going to be providing 4.2 billion people with internet, facebook will become a minor product in a sea of services that they will provide.

Sure it's possible they could go under, however there's about as much risk of apple or google going under. They're one of the giants of industry.

c_man · 02-12-2015 12:25PM

Laois_Man wrote: »

Where did MySpace go? Less than 10 years ago, it was as big as Facebook is now....

No it wasn't. Currently FB has a seventh of humanity logging in uniquely at least once per month. That's leaving aside dead profiles etc. Myspace never ever attained anything like that. Not saying FB is here forever but lets get facts straight.

02-12-2015 12:30PM

Memnoch wrote: »

Facebook paid 4,000 pounds corporation tax in the UK in 2014. How much did the average worker in the UK and Ireland pay, I wonder?

How many employees does Facebook employ between the UK and Ireland? While it sucks that they don't pay too much, the biggest reason that these major corporations have their European HQs in Ireland is because of low tax. So if it wasn't for this, those people would likely have emigrated.

Laois_Man · 02-12-2015 01:01PM

Thargor wrote: »

It really, really wasnt.

The answer to where did Myspace and Orku and all the rest go is that they lost, to Facebook, and now Facebook is entrenched for a generation or two. Bebo and the rest were never entrenched in peoples minds like Facebook is and definitely not to a level of one billion users and climbing. Even with something the size of Google forcing Google+ down peoples throats they still couldn't put a dent in Facebook. There isnt going to be a whole new social media site, the war is over and Facebook is the winner. If anything interesting comes along they'll either copy it or buy it. Predicting something will come along and destroy Facebook is like predicting something will come along and destroy Windows, it could happen but highly unlikely.

When I say MySpace was as big as Facebook is now....I mean MySpace was "thee thing" then just like Facebook is now - just everything was on a smaller scale.

10 years ago, maybe you would have also written "the war is over and MySpace is the winner".

It's very short sighted if I may say. Facebook has a life cycle like any other product. Even when you assume the thing that knocks Facebook off it's perch could only be a whole new social media site. The chances are social networking will becoime something that doesn't happen online at all in the future. There's already a demand out there to converge the features offered by Facebook, Twitter, Spotify, LinedIn, Tumblr, Pinterest, TV Catch-up apps etc into one place - with new things too like an extension of Oculus Rift, allowing you to buy tickets to and then virtually sit in a football stadium in Australia at 8 O'Clock and then in a theater on Broadway at 10 O'Clock. If anything interesting did come along, who says it's Facebook that would buy it? Google would flatten them in any bidding war if they took their fancy to something, which they would if it was the next biggest thing.

When Zuckenberg is 50, my son will be 24 and there's no way in hell I can see him on Facebook with his old man - or the likes of Google just sitting back and allowing Facebook to overtake it.

Public_Enema · 02-12-2015 01:01PM

I remember hearing about an Irish celebrity that wanted only cash as a wedding gift, because he was donating it to the local Hospice. Some time later the Hospice came out and confirmed they never received a penny. So in the case of Zuckerberg, I'll wait to see if he'll walk the walk, rather than talk the talk.

Saipanne · 02-12-2015 01:02PM

Have people started whinging about it yet?

c_man · 02-12-2015 01:07PM

Laois_Man wrote: »

...with new things too like an extension of Oculus Rift, allowing you to buy tickets to and then virtually sit in a football stadium in Australia at 8 O'Clock and then in a theater on Broadway at 10 O'Clock. If anything interesting did come along, who says it's Facebook that would buy it? Google would flatten them in any bidding war if they took their fancy to something, which they would if it was the next biggest thing.

Umm, you do know who owns Oculus Rift right?

Eugene Norman · 02-12-2015 01:17PM

Saipanne wrote: »

Have people started whinging about it yet?

No, very positive thread.

Eugene Norman · 02-12-2015 01:20PM

c_man wrote: »

Umm, you do know who owns Oculus Rift right?

This kind of diversification outside core business is never a good thing.

Saipanne · 02-12-2015 01:24PM

Eugene Norman wrote: »

No, very positive thread.

Nice one. I'm surprised!

Laois_Man · 02-12-2015 01:28PM

c_man wrote: »

Umm, you do know who owns Oculus Rift right?

Yes I do

And Google will soon own Magic Leap - in direct competition with them and which if it does what it says it will do, makes Oculus Rift irrelevant ! As I said, not sitting back allowing Facebook to just overtake them, and they never will.

Who wins is far from decided already.

Zuckerberg Giving Away 99% of His Facebook Shares

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