Mark Zuckerberg of Facebook is committed to make a donation of wealth (Yahoo!)

 

Donation commitment is an effort organized by Microsoft founder Bill Gates and Investor Warren Buffett, which aims to persuade the richest people in the world to engage in philanthropy.

CEO of Facebook Inc. Mark Zuckerberg has signed the "Don commitment,"promising to give most of his still theoretical wealth to charity.""

Zuckerberg and Facebook co-founder Dustin Moskovitz are part of a group of 16 making a pledge organized by Microsoft Corp. founder Bill Gates and investor Warren Buffett. The effort is designed to persuade the richest people in the world to engage in philanthropy.

Other new signatories include AOL co-founder Steve Case, investor Carl Icahn and link spam King Michael Milken. They join previous signatories include Oracle Corp. founder Larry Ellison, filmmaker George Lucas, Mayor of New York Michael Bloomberg.

Forbes was estimated at nearly $ 7 billion of wealth of the old Zuckerberg 26 years old, but it is its stock in the social in Palo Alto, California networking company that has yet to go public. Facebook has opened an Office in Austin earlier this year.

"People expect the end of their careers to give back." But why wait for when there are so many things to do? "Zuckerberg said in a statement issued by the commitment to give Wednesday evening. "With a generation of young people who have flourished on the success of their businesses, there is an important opportunity for many of us to give earlier in our lives back and see the impact of our philanthropic efforts."

This is the second pawning of important charity he has done in recent months. Zuckerberg in September, has promised to give up to 100 million dollars to Newark public schools.

The complete list of the signatories of the commitment to donate can be accessed by clicking here.

Written by Schubarth Cromwell. Contact him at 408-299-1823 or cschubarth@bizjournals.com

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Zuckerberg of Facebook is committed to giving wealth (PA) (Yahoo!)

NEW YORK – the richest people in America, including Facebook CEO Mark Zuckerberg, a further 17 binding undesirable pioneer Michael Milken and AOL co-founder Steve Case, have promised to give more of their wealth.

26, Zuckerberg has established itself not only as one of the youngest billionaires in the world map, but also as a new importance to the world of philanthropy. Earlier this year, he promised 100 million over five years for the school system in Newark, New Jersey. Now, it is accompanied by media titans Carl Icahn, 74, Barry Diller, 68, and others who have joined the commitment to make a donation, an effort led by Microsoft founder Bill Gates and Investor Warren Buffett to commit richest people of the country to intensify their charitable donations.

The Group has signed 57 people and their families since the launch of the campaign in June. The list also includes Mayor of New York Michael Bloomberg, founder Ted Turner CNN and Director George Lucas. But Zuckerberg and Facebook co-founder Dustin Moskowitz, 26, are the two younger.

"People expect the end of their careers to give back." But why wait for when there are so many things to do? "Zuckerberg said in a statement. "With a generation of young people who have flourished on the success of their businesses, there is an important opportunity for many of us to give earlier in our lives back and see the impact of our philanthropic efforts."

Although the engagement is not a formal contract, those who commit to at least half of their wealth to philanthropic causes in their lives or after their death. Zuckerberg commitment for Newark school system was by his startup: Foundation for education, he created as part of the donation. $ 100 Million will be awarded in the form of shares in Facebook, which the Foundation will be responsible for the sale to raise cash.

Zuckerberg has about a quarter of the shares of Facebook and Moskowitz has a much smaller. Although the shares of the company are not listed, they may be sold on private scholarships, something some current and former Facebook employees did. Shares in these markets are sold so that buyers will pay, but because the market is small and "liquid", it is necessarily not a good idea value of the shares that the company goes public.

Thus, it is difficult to estimate how many actions are really interesting, even if there is no doubt that Facebook is worth a little. On SharesPost, one of the markets where Facebook shares are traded, common shares of the company had recently a contract completed between a buyer and a seller at $25, which implies an assessment of nearly $ 57 billion, or approximately 14 billion shares with Zuckerberg.

Facebook has not responded to a Zuckerberg interview request on commitment, Thursday, and there is not much for details on how to work the promises.

By pushing the lower age of large donations, Zuckerberg is difficult today generation entrepreneurs think beyond how they make their next million — or billion - will on how they give it further technology.

"Young donors think longer term because they will be more long term", said Jason Franklin, Professor at the University of New York and Executive Director of the non-profit Bolder Don, which encourages people to donate. "Give when you're older, you give so that your children will have a world better." Give when you're in your 20s, you give so you'll have a world better. »