Zuckerberg Strikes Again: Joins the A Team
Facebook founder joins Buffett and Gates in Pledge.
Mark ZuckerbergPic: Mark ZuckerbergMark Zuckerberg, the 26 year-old founder of Facebook and the recent subject of “The Social Network” movie, has teamed up with more than 50 other wealthy American Forbes-worthy individuals and families for a very special and important cause: to give more than half his fortune to charity, in a pledge started by billionaires and philanthropists Warren Buffett and Bill Gates.
Zuckerberg announced on Thursday that he will participate in the Giving Pledge project. Since June, Gates and Buffett have been recruiting billionaires all across the U.S. on the pledge to give most of their hard-earned fortune to the noble cause, and indeed, the number of participants has risen to 57 since the project was launched.
“People wait until late in their career to give back,” said Zuckerberg, who is worth some $6.9 billion, according to Forbes magazine. “But why wait when there is so much to be done?” he asked after making a donation of $100 million in September to renovate the public schools in Newark, New Jersey.
"There is a big opportunity here for many of us to return in an early phase of our life to society and to watch over our philanthropic ventures," he added.
In addition to Zuckerberg, more than 15 other billionaires announced this month that they would be joining the pledge, including Dustin Moskovitz, who was a co-founder of Facebook. AOL co-founder Steve Case will also participate in the Giving Pledge project, as will Michael Milken, the former Wall Street executive who did time in the early 90's for white collar crimes.
According to Forbes, the U.S. currently houses approximately 400 billionaires. Warren Buffett has already promised to give away 99% of his wealth to Bill and Melinda Gates' charity fund.
Bill Gates himself has given over $28 billion to the fund. Seeing the success of the pledge initiative, Buffett and Gates are working at expanding their philanthropic effort overseas.
“In just a few short months we have made good progress,” Buffett said. “The Giving Pledge has re- energized people thinking about philanthropy.”
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Annual List is the definitive guide to Britain’s and Ireland’s wealthiest people
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