Facebook CEO has been deemed as the new Bill Gates as he has lately taken some steps that have been very similar to what the latter has done throughout his life in the tech world.
The fact that the CEO of Facebook Inc Mark Zuckerberg, along with his wife Priscilla Chan, has donated a huge 99% of their company shares to charity has shaken up the industry and has left the investors and analysts quite in a shock. As per the plan announced, the charity has been directed towards the Chan Zuckerberg Initiative, which has been set by the social media administrator that has been recognized as a limited liability firm.
Despite the fact that Zuckerberg has been appreciated for the kind of gesture he has pulled off with his wife, there still are many critics in the industry who believe that this could be just another stunt pulled by the company to cut down on the taxes, which it has to pay in millions on its revenue.
However, the young CEO has emerged to have completely disagreed with the rumors that have been circulating in the market since the announcement that he made following his daughter's birth. In the most recent press release, the social media giant founder talked about how the LLC (limited liability company) has been set up basically to promote the idea of encouraging new investors on a private level along with giving itself a chance to fund organizations working on a nonprofit level.
On the other hand, he also did not hold back the details as to why the completely new company has been made in the first place and discussed how the giant's efforts are not a malicious act to avoid taxes at any point, as some industry pundits are considering it.
The social networking giant president was also seen to mention how by operating through the Chan Zuckerberg Initiative, it will only be making things easier and more flexible for the famous couple to operate their mission in the startup company effectively. It was also stated that through the LLC project, both of the husband and wife will be able to not only make investments in private organizations, but will also be taking an active part in policy debates.
This is not the first time that Zuckerberg has put out such a great deal of money to be given to charity, as it has already made quite huge investments in two schools, namely AltSchool and Bridge International Academies. On the other hand, it has also been making efforts to bring about positive developments and changes in a number of schools in Africa. This is just one of the reasons why this step taken by him is being appreciated on a huge level by the whole tech and software industry.