Is Mark Zuckerberg’s $45 Billion Facebook donation good or not? Best to consider the alternative

In analysing the donation, Forbes (in The Surprising Math In Mark Zuckerberg’s $45 Billion Facebook Donation) sums it up like this:

Mr. Zuckerberg’s pledge is incredibly generous. But it is also likely to involve some very savvy tax planning.

It’s true, the donation is incredibly generous. You can use all the superlatives you want, and it still amounts to something out of the ordinary. Is the donation financial savvy? Of course, but why shouldn’t it be? Either way, will it be spent well? Possibly, possibly not. For that, we will have to wait and see.

As I read people arguing against the donation, I thought about what the alternatives could be. One alternative is no donation at all. Plenty of very rich people donate only a small fraction of their money to good causes. Young billionaires aspiring to be large benefactors is something that should be encouraged, not discouraged. Another alternative is donations to political causes I disagree with. Quite a few billionaires do that. I prefer to see the billions directed otherwise.

As for people arguing for the donation, I wondered if they considered the alternative of the donation going to taxes or charities. Perhaps Zuckerberg will be very good with directing the money, better than the state or NGOs. I’d like to see a good portion go to them, though. Too little of the wealth of the 1% (or .01%) go to paying taxes that pay for a lot of things like social services and health care and the military and infrastructure. More money to pay for those things would be better. Likewise, well run charities are already up and running and could spend the money in efficient ways that a new organization cannot.

This donation is a positive thing, but you should still be able to think critically of it. Mark Zuckerberg is a smart guy and he’s maturing. Let’s hope he uses his good fortune to do good in the world.

 

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2 responses to “Is Mark Zuckerberg’s $45 Billion Facebook donation good or not? Best to consider the alternative

  1. I agree with your key points: it’s better that he donate it somehow (as long as it’s not politically) than not at all, but it would have been more useful to have the money collected in taxes instead.

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