Facebook co-founders pledge to give away most of their fortunes

Facebook CEO Mark Zuckerberg was one of 17 billionaires this week to pledge donating more than half of their wealth to charitable organizations.

The Giving Pledge project, announced in August, has been spearheaded by Bill and Melinda Gates and investor Warren Buffet as a way to encourage entrepreneurs to become philanthropists earlier in life.

Also read: CEO Payday: What Top Tech Execs made in 2009

Zuckerberg is just 26 years old and was said to be worth $6.9 billion in the latest Forbes list of richest Americans.  While the Facebook CEO took a publicity hit with the launch of The Social Network movie about Facebook’s rise, he has also polished his image through such actions as pledging $100 million to bolster Newark, N.J. schools.

Zuckerberg's social networking sidekick Dustin Moskovitz, also 26, has signed on to the Giving Pledge as well, as has AOL co-founder 52-year-old Steve Case, and his wife Jean, adding 17 families/individuals to the original list of 40.

Oracle’s Larry Ellison was among the original group of pledges that also included investor Carl Icahn, film director George Lucas and TV mogul Ted Turner.

The focus to date has been on U.S. donors, but the plan is for Buffett and the Gates family to take the program international.

Zuckerberg in his pledge said that: "People wait until late in their career to give back. But why wait when there is so much to be done? With a generation of younger folks who have thrived on the success of their companies, there is a big opportunity for many of us to give back earlier in our lifetime and see the impact of our philanthropic efforts."

In a similar vein, actor Edward Norton started up a social networking site called Crowdrise focused on charitable giving.

Among tech firms, Google has been particularly ambitious about charitable giving, donating $2 million earlier this year to support Wikipedia, for example.

Tech industry watchers say that young employee prospects, "millennials," are especially interested in working for organizations that give back to the greater good.

With the tough economy, U.S. charitable giving dropped 3.6 per cent last year to $303.75 billion, according to the Giving USA Foundation, which tracks donations from U.S. individuals, companies and foundations.

For billions of great tweets and posts, follow Bob Brown on Twitter and Facebook.

Read more about data center in Network World's Data Center section.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags social mediainternetOraclebusiness issuesunified communicationsFacebookNetworkingsocial networkingsoftwareapplicationsinvestmentsWeb 2.0corporate issuesInternet-based applications and services

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Bob Brown

Network World
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?