A 1% gives away 99%

Stuff reports:

Facebook chief executive and his wife are to give away 99 per cent of their fortune in Facebook stock to a new charity that the couple are creating.

The couple also announced the birth of their first child on Wednesday (NZT). 

“Priscilla and I are so happy to welcome our daughter Max into this world,” Zuckerberg said in a Facebook post. …

“As you begin the next generation of the Chan Zuckerberg family, we also begin the Chan Zuckerberg Initiative to join people across the world to advance human potential and promote equality for all children in the next generation.

“Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities.”

“We will give 99% of our Facebook shares – currently about US$45 billion ($67.4 billion) – during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others.”

Many rail against the rich and super rich. They write how unfair it is 1% have 50% of the wealth etc. Their solution is to tax them to death, and also tax them upon death.

But you know what – I much prefer people like Mark Zuckerberg and Bill Gates decide for themselves how to spend their wealth, than the Goverment confiscating it from them, and deciding for them.

 

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