Re:A letter to our daughter
by scott_karana on Tuesday December 01, 2015 @07:57PM
(#10660109)
> Because hoarding up billions of dollars into family dynasties is pretty much doing nothing.
Well, his money isn't stuffed under sofa cushions, so it would bankers choosing what to invest in, but your point still stands. ;)
If the wealth is held as stock then there is no "money" for the bankers to do anything with. At best he can borrow money with the stock as collateral and then allow bankers to invest that.
I don't think this sort of thing is about "giving back" however. I think it's something more ambitious than that: to "do something", do something transformative for the future.
Though Zuck's manifesto isn't well thought out yet, I'm stoked that he's committed to doing something with that $45B. Because hoarding up billions of dollars into family dynasties is pretty much doing nothing.