Tag Archives: charitable planning

Mark Zuckerberg And His Charitable Plan Deserve Praise, Not Scorn

As if founding Facebook  and reaching #16 on Forbes’ ranking of the world’s billionaires wasn’t impressive enough, Mark Zuckerberg – along with his wife, Dr. Priscilla Chan — is out to change the world for generations to come.  But not everyone thinks his motives are pure.  Mark Zuckerberg

Zuckerberg and Chan announced their decision to transfer 99% of their Facebook stock to a new charitable-based venture called the Chan Zuckerberg Initiative.  This will do this through a new limited liability company, with the stated purpose to “to join people across the world to advance human potential and promote equality for all children in the next generation.”  The stock will be handed over throughout their lifetimes, with no more than one billion dollars in stock gifted or sold annually for the next three years, according to a recent Facebook filing with the SEC.  Zuckerberg and Chan write that the value of the stock, presently, is about $45 billion, but that will likely grow over time considering their youth (Zuckerberg is Read more...

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Simpsons Co-Creator Sam Simon Teaches Lesson In Estate Planning

Sam Simon is a co-creator and executive producer of the longest running scripted primetime show ever:  The Simpsons.  Simon, however, clashed with the other Simpsons’ creators and left the show in 1993, after only four seasons.  Co-creator Matt Groening called Simon and “brilliantly funny” but “unpleasant and mentally unbalanced.”  D’Oh!  Sam Simon

In hindsight, Simon should also be described as a brilliant businessman.  He negotiated to keep executive producer credits for the show and a share of The Simpson’s profits each year, including the highly-lucrative home media distribution.  So despite having left the show 20 years ago, Simon is still listed as an executive producer on each episode.  And his profits keep rolling in, year after year.

Interestingly, Simon appears embarrassed by how much money he still receives — tens of millions of dollars each year, as he’s revealed in media interviews.  He’s said it’s far more money than he could ever need.  Because Simon is divorced, and has no children (although he is engaged), Simon says his family members are already Read more...

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