Bloomberg explains, setting up the organization as an LLC allows it to spend money on lobbying, earn money to reinvest in the organization, do joint ventures with fewer restrictions, and lets them give Chan Zuckerberg Initiative, is a corporation — an LLC — rather than a nonprofit charity. At any money at a pace they determine................
Gawker pointed out that Zuckerberg's donation is going toward furthering the things that he thinks would help the world, which are not necessarily the things that other people think would help the world..................
No matter how good their intentions, the net result of most such efforts has typically been neutral at best, and can sometimes be deeply destructive. The most valuable path may well be to simply pay taxes, invest this enormous pool of resources in the people and institutions that are already doing this work (including, yes, public institutions funded by tax dollars)........................
By donating 99% of his share of Facebook A shares, he can spend 100% of this money. He still control the company, he has many other investments too.....................
If he does not donate this money, he would have to pay 50% inheritance tax and 40% income tax. By donating his money, he can spend 100% of his foundation’s money any way he likes. So, who is going to pay the taxes to government? 50 cents of every dollar this government spent are printed already.......................
Just like Bill Gates, his father, his uncle, many member of his family work for Bill’s foundation, for example: Bill Gates went to China to see 2008 Olympic games in Beijing, he used private jet , rent the whole floor next to the Olympic stadium at $1 per square feet per day. Many Chinese officials invited him for dinner.................... I was there and published in newspaper articles.........................
