Mark Zuckerberg Is Not Giving 99% of His Facebook Shares to a Charity
2nd December 2015
Zuckerberg and his wife Priscilla Chan have set up the Chan Zuckerberg Initiative, a limited liability company – not a charity or charitable trust. Legal filings show that the Chan Zuckerberg Initiative is owned and controlled by Zuckerberg.
A spokesperson has confirmed to Buzzfeed that as a company, the Initiative can spend its money on whatever it wants – including private, profit-generating investment.
Let’s see: He’s donating 99%, which means he’s keeping 1%, and 1% of $45 billion is $450 million — I could live on that.