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He's not "donating 99% of his stock to charity." He's setting up a non-taxable charity vehicle that he controls.
by throwaway_xx9 10y ago
He's not "donating 99% of his stock to charity."
He's setting up a non-taxable charity vehicle that he controls.
- sleepychu 10y agoHis original announcement said it wasn't a charity so he could lobby governments. Has he since said something to the contrary?
- tomelgin 10y agoIt is a taxable LLC. He doesn't get the tax-benefits of setting up a nonprofit, but he has much more freedom in how to use the money (e.g. including making investments vs donations, and including non-tax-deductible political activism). https://en.wikipedia.org/wiki/Chan_Zuckerberg_Initiative#Company_form_and_taxation https://en.wikipedia.org/wiki/Chan_Zuckerberg_Initiative#Com...