Max Zuckerberg Just Made A $45 Billion Dollar Marketing Move

2 Dec 2015 | Author: | No comments yet »

7 billionaires who pledged to give away their billions like Mark Zuckerberg.

India will step up curbs on steel imports before the end of the year to combat a rising tide of cheap shipments and aid local producers, according to Steel Secretary Aruna Sundararajan.That sterling spoon you might have been considering for Mark Zuckerberg’s new baby may no longer be the most exciting gift to the Facebook billionaire’s daughter: after revealing his wife, Priscilla Chan, had given birth to their first child, Max, Zuckerberg announced the creation of a charity organisation called the Chan Zuckerberg Initiative.

He is among the 138 wealthy individuals and families who have signed a “giving pledge” committing them to donate most of their fortunes in an attempt to fix society’s problems.Mark Zuckerberg’s pledge to devote 99 per cent of his Facebook shares to philanthropic causes was immediately notable for its size – $45billion at the current stock price – but the way he has crafted the promise may ultimately be as significant as the amount.

The charity, which has “the mission of advancing human potential and promoting equality”, will be administered by the chief executive himself and is already on track to be worth a potential $3-billion by 2018. By creating a limited liability company to use the money for political activism and for-profit investing, as well as traditional giving, Mr Zuckerberg revealed how a new generation of Silicon Valley entrepreneurs may approach the philanthropic world. The plan, posted on the Facebook founder and CEO’s page, attracted more than 570,000 likes, including from singer Shakira, former California governor Arnold Schwarzenegger and Melinda Gates, wife of Microsoft founder Bill Gates. The basket of products that face a 20 percent safeguard tax may be widened beyond hot-rolled coil, Sundararajan said by phone from New Delhi on Wednesday.

The Gateses and other high-profile billionaires such as Warren Buffett have set up foundations of their own to dedicate their massive fortunes to philanthropic endeavours. India is among countries facing a surge in steel shipments from China, the world’s top producer, where slowing local consumption has spurred mills to ship unprecedented volumes. In a separate public announcement, Facebook, which boasts a market value of $300 billion, said that Mr Zuckerberg’s has committed to disposing of no more than $1 billion of Facebook shares each year for the next three years.

In an accompanying video filmed sitting on a couch at home, surrounded by family photographs, and posted on Facebook, Mr Zuckerberg said that improving education, advancing science and strengthening communities involved “big complex systems” and that “it is hard to move these things in the short term”. According to Facebook’s most recent proxy statement, Mr Zuckerberg owned 4-million class A shares and 422.3-million class B shares, which have 10 times the voting power of A shares.

India’s plan for additional barriers adds to signs that importers are pushing back with greater vigor against the tide, potentially capping China’s exports into 2016. “In the coming few weeks, India will have tough measures in place to provide a level playing field for domestic producers,” Sundararajan said. “We are increasingly looking at anti-dumping duties. The social media entrepreneur, one of the world’s richest people, will hold on to about $450 million worth of shares along with sufficient voting shares leaving him with control of the company. His announcement came a day after he joined the Breakthrough Energy Coalition, a group of billionaires promising to invest in clean energy technology to bridge a “near impassable valley of death” between promising concepts and viable products.

We have observed that there are wide differences in the subsidies given to some overseas products and the prices at which they are sold in India.” India’s imports may jump to 14 million tons to 15 million tons in the year ending March 31, she said. In contrast to traditional foundations, LLCs are able to engage in public policy advocacy and for-profit investments that can also advance their favoured causes. Tata Steel rose as much as 3.5 percent to 245.90 rupees in Mumbai, the highest level since Nov. 2, while JSW Steel gained as much as 2.7 percent to 968.75 rupees, the highest price since Sept. 18. The couple say all investment profits will be ploughed back into additional philanthropic work. “The Chan Zuckerberg Initiative will pursue its mission by funding non-profit organisations, making private investments and participating in policy debates, in each case with the goal of generating positive impact in areas of great need,” Facebook said. On behalf of future generations, I thank them.” Mr Buffett himself pledged shares of his Berkshire Hathaway company that were then worth $31bn to the Gates foundation in 2006, and at the time ranked as the largest single gift.

Their work and their giving are coming together.” The US gives generous tax breaks for donations to charity which can be used to limit capital gains liabilities in particular, although their value depends on the vehicles used and the timing of gifts and share sales. We will do our part to make this happen, not only because we love you, but also because we have a moral responsibility to all children in the next generation. Exports from China will probably peak in 2015 as the doubling of shipments over the past two years spurred a wave of protectionism around the world, according to JPMorgan Chase & Co. Our society has an obligation to invest now to improve the lives of all those coming into this world, not just those already here.” Zuckerberg plans to finance the endeavor using his stock options.

Mr Moskovitz and his wife, Cari Tuna, also plan to give the vast bulk of their Facebook fortune away in their lifetime, and have made for-profit investments in artificial intelligence, grants to promote immigration reform and support for homelessness charities. Net exports from the top producer will plateau at about 90 million tons a year, with gross shipments seen at about 105 million tons, it said in October. Silicon Valley is approaching philanthropy the way that tech entrepreneurs take on any challenge: using data and trial and error tactics – A/B testing in an engineer’s language – to come up with ambitious and at times unusual answers to perennial problems. It will begin by focusing on curing disease, internet connectivity, community building and personalised learning — the idea that technology can help students learn at different paces.

People who’ve made all that money are by nature competitive; someone that young giving away that much money will undoubtedly stimulate others to do likewise.” But it’s not the executive’s first foray into charity, nor the first this week. They have given several donations this year, including to public schools, initiatives to bring better wireless internet access and to San Francisco General Hospital, where Ms Chan works as a pediatrician.

FWD.us, a political advocacy group started by Zuckerberg and Gates, has also stalled after its efforts to lobby for immigration reform failed, despite some $50-million in backing from big-name tech personalities.

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