{"id":50126,"date":"2020-09-16T06:01:25","date_gmt":"2020-09-16T06:01:25","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=50126"},"modified":"2021-12-24T10:32:01","modified_gmt":"2021-12-24T10:32:01","slug":"zuckerberg-wants-to-change-the-world-with-his-philanthropy-by-zeenat-khan","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/zuckerberg-wants-to-change-the-world-with-his-philanthropy-by-zeenat-khan\/","title":{"rendered":"Zuckerberg wants to \u201cChange\u201d the World with his Philanthropy: by Zeenat Khan"},"content":{"rendered":"

Zuckerberg wants to \u201cChange\u201d the World with his Philanthropy: by Zeenat Khan<\/span><\/h1>\n

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\"Zuckerberg<\/p>\n

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Since 2014, we all have seen how Facebook CEO and co-founder Mark Zuckerberg constantly talks about changing the world. Will his billionaire philanthropy actually save the world? His estimated wealth to date is $111 billion USD. It makes him the fifth richest man on the planet. In 2017, while Zuck was nabbing an honorary degree from Harvard College, Harvard\u2019s 28th President Drew Faust immortalized the famous dropout with the following statement: \u201cMark Zuckerberg\u2019s leadership has profoundly altered the nature of social engagement worldwide. Few inventions in modern times can rival Facebook in its far- reaching impact on how people around the globe interact with one another\u2026And few individuals can rival Mark Zuckerberg in his drive to change our world through the innovative use of technology, as well as his commitment to advance science, enhance education, and expand opportunity through the pursuit of philanthropy.\u201d Wow! I never thought that I will live to see such abundant praises and weighty endorsement from none other than an elite university president (a historian of the Civil War and the American South) for a dropout.<\/span><\/p>\n

After dropping out from Harvard, Zuck promised his mother that one day he will go back and get that degree. Sure enough he made good on his promise or rather Harvard gave that honorary degree to him on a silver platter in 2017. It gets better. Zuck was also the featured commencement speaker for the graduating class of 2017. He was very happy that no one will now call him a \u201ccollege dropout.\u201d Such a generous gesture was not forgotten by the new graduate. Later in the year, in November, he had rewarded his now beloved alma mater with the following announcement: Facebook CEO Mark\u00a0Zuckerberg<\/strong>\u00a0and his wife Priscilla Chan want to use their wealth to increase opportunities for the next generation. According to the\u00a0Boston Globe,<\/em>\u00a0\u201cZuckerberg<\/strong>\u00a0and Chan are granting\u00a0Harvard<\/strong>\u00a0University $12.1 million to encourage low-income undergraduate students to pursue jobs in public service.\u201d<\/span><\/p>\n

Essentially this exchange between Harvard and Facebook\u2019s \u201cgolden boy\u201d CEO sheds light on centuries-old adage, \u201cMoney talks,\u201d and reaffirms wealth is powerful. Twelve years after dropping out, he got that Harvard degree because he created Facebook which at the time was worth $400 billion. He simply got that diploma without doing the hard work. His graduating batch mates of the class of 2006 all had worked their butts off to get that diploma from the prestigious university. Now are we supposed to be impressed by wealthy Zuck because his recent mantra is: He wants to change the world?<\/span><\/p>\n

When one becomes a billionaire at age twenty-six, one can possibly be arrogant, and say money can be a substitute for real education. Very early into their philanthropic gestures, I came away feeling that they are also two-faced, and mostly out there to help themselves into millions more. After professing their love for the disadvantaged, and the needy, people like Zuckerberg and Chan turn to social projects to feel a sense of accomplishment. Charity possibly gives them a way out to absolve them of the moral dilemma and psychological pressure of having an insane amount of money. It probably eases their conscience due to ethical conflict.<\/span><\/p>\n

Back in 2014, Zuckerberg and his wife Priscilla made their debut as philanthropy\u2019s cutest couple, the younger version of Bill and Melinda Gates. The new philanthropist couple of Silicon Valley is believed to be at the top of the nation\u2019s highest income bracket. Giving to charity improves the couple\u2019s self-image, and further signals their elevated social status. At the beginning of their philanthropic work, they were being boastful and made a big announcement that they were donating $120 million to San Francisco\u2019s Bay Area schools. I recall seeing Priscilla in her first television interview (since she wed the billionaire). She told NBC television\u2019s Savannah Guthrie why as a couple they felt compelled to give. To live a life well also means to give to the community, she noted. According to her, they live in an affluent neighborhood in the Bay area, and few miles down the road there is extreme poverty and people struggling to survive. Knowing that, how can she sleep well at night? She feels \u201cgiving back\u201d is a social obligation to her and Mark.<\/span><\/p>\n

In 2014, Zuckerberg was considered a self-made billionaire and his own estimated fortune was $6.9 billion. Donating $120 million every four years to a suffering school district is a small drop in the bucket. It\u2019s true that to the suffering students, Zuckerberg\u2019s motives don\u2019t matter. They are just happy to be in a freshly painted classroom, decked with new tabletop computers, and new text books. When the wealthy people donate millions, the public view gets clouded and it prevents them from seeing that Zuckerberg is mostly driven by profit-making motives.<\/span><\/p>\n

The \u201cdynamic\u201d Zuckerberg duos giving $120 million in improving the suffering school districts was not necessarily a great move. It may have solved the immediate problems, but surely had distracted the educators and the school system to rethink a policy that has long term answers. With donated money, one cannot go very far where education system is concerned. In situations like this, a much larger scale government initiative to change the conditions of the school system would have been the better solution. The government might be more likely to focus on the education projects if they weren\u2019t being helped by charities with their millions.<\/span><\/p>\n

For Mark and Priscilla, it was the beginning of a great public relations move to improve their image as \u201cnice people.\u201d Starting early on with philanthropy perhaps had released the emotional pressure they were under for having billions. The couple did not come from\u00a0old money<\/em>\u00a0families. Though it appears Mark\u2019s family had money as his parents had sent him to the Phillips Exeter Academy (a co-ed boarding school in New Hampshire). On the other hand, Priscilla\u2019s hard working immigrant parents were only able to send her to Harvard because in the financial aid package she was offered a full scholarship.<\/span><\/p>\n

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It won\u2019t be too far-fetched to think that Mark and Priscilla are actually modeling after Bill and Melinda Gates. Zuckerberg had made similar donations in 2010, when he gave $100 million to refurbish the run down public schools of the city of Newark, New Jersey. At the time, it was seen by many as an attempt to deflect the negative attention from the movie that came out in 2010, the\u00a0Social Network<\/em>\u00a0based on his life. \u00a0Facebook\u2019s rather sketchy origin story was famously sanctified by Aaron Sorkin in\u00a0the 2010 movie. Mark\u2019s publicist knew that donating large sums of money was good press for him.<\/span><\/p>\n

It is ironic that Zuckerberg gave money to schools, whereas he himself was a dropout. However, adopting the U.S. education system was a gallant move that was undoubtedly orchestrated by his publicist. Publicists make a key strategy to focus on communities where the donors live. That way the donation makes a positive impression of them to the public. The school system is in dire need for cash, and they must upgrade everything to give the deprived kids a decent education. These schools are far behind in the national average in terms of test scores in standardized testing. As a daughter of struggling immigrants, Priscilla claims to have understood their plight, and wanted to support the community with a huge donation. Outwardly, she made a strong case to support her views. Their donated $120 M went towards different innovative classroom projects to update age old systems from Kindergarten through 8th<\/sup>\u00a0grade classes. Such philanthropic act was welcomed by the area\u2019s neglected schools. There is nothing ominous about giving back to one\u2019s community. Then why so many people are skeptical about their motives?<\/span><\/p>\n

Zuckerberg constantly talks about changing the world. How does he plan on changing it other than the obvious i.e. 2.8 billion people use at least one of his services \u2014 Facebook, Messenger, WhatsApp or Instagram? Initially, it was to revamp the faulty education system that was producing unintelligent kids. Then he wanted to do something entirely different with his money.\u00a0According to a recent report by Vice News<\/a>, Zuckerberg and wife wanted to \u201cthrow their money where it counts.\u201d \u201cThe Chan Zuckerberg Initiative(CZI) \u2014 a limited-liability company founded by Zuck and his wife Priscilla Chan back in 2015 that\u2019s dedicated to \u201ccharitable efforts\u201d \u2014 has publicly committed $45 million \u201cinto groups aligned with two political causes: ending the era of mass incarceration and fixing the affordable housing crisis in American cities.\u201d<\/span><\/p>\n

\"Zuckerberg<\/span><\/p>\n

Chan with husband Mark Zuckerberg in Prague, Czech Republic, 2013.\u00a0<\/em><\/strong>Chan married Zuckerberg on May 19, 2012, the day after Facebook\u2019s stock market launch.<\/em><\/strong><\/span><\/p>\n

CZI wanting to focus on something different is not entirely based on altruistic motives. \u201cThe announcement is also significant for what it tells us about the role Zuckerberg wants to play in the political process. It seems clear, based on how the money is being spent, that Zuckerberg isn\u2019t particularly interested in being a leading-light hobbyist philanthropist seeking to raise awareness \u2014\u00a0he wants to leverage his wealth in the political arena to change laws and fix problems. The groups funded by CZI are chosen according to their track records on the introduction and passing of referendums, successfully lobbying for legislation, and swaying the minds of city officials on key issues. And looking at some of the most recent recipients of CZI funds \u2014 which includes a number of bona fide superstars (in the world of lobbying, at least), such as\u00a0Families Against Mandatory Minimums<\/a>,\u00a0Alliance for Safety and Justice<\/a>, and\u00a0the American Conservative Union Foundation\u2019s Center for Criminal Justice Reform<\/a>\u00a0\u2014 you can tell success is a prerequisite.\u201d Go figure.<\/span><\/p>\n

\u201cEven by our current dismal standards, however, Zuck is full of crap.\u201d \u201cPoint one: the Chan Zuckerberg Initiative is\u00a0not a charity<\/a>. It\u2019s a limited liability corporation (LLC) that, like any other company,\u00a0can<\/em>\u00a0donate to actual charities but can also invest in for-profit companies. Point two: this is all about control.\u201d\u2014 Counterpunch.org<\/span><\/p>\n

It is alleged that Zuckerberg started Facebook in his Harvard College dorm room to get Non-Jewish girls. Of course, Zuck denies it. In 2018, he had to testify before Congress to clarify whether Facebook was invented to rank hot girls on campus. He said it was his \u201cother\u201d website\u00a0Hotmash<\/em>\u00a0that was developed to do it. After facing backlash from students, he shut down the sexist site saying, \u201cHe doesn\u2019t want to hurt anyone\u2019s feelings\u201d by making fun of their looks, and by comparing their photos with farm animals. But the allegations never went away. Another accusation that he does not accept is that Facebook was not originally his brainchild. In the movie, the\u00a0Social Network<\/em>, Zuckerberg was portrayed as a greedy corporate type who stole the idea of Facebook from his fellow Harvard students. It has been suspected that the original Facebook idea came from fellow Harvard students Cameron and Tyler Winklevoss, identical twins, and their partner Divya Narendra. Zuckerberg sidestepped them, and created the early version of Facebook and made it his own. In 2008, Facebook settled their case with the Winklevoss brothers for $65 million dollars. Therefore, in the mind of the public, Zuckerberg still remains a \u201cgeek\u201d who is \u201cintellectually corrupt.\u201d<\/span><\/p>\n

Zuckerberg is not shy about saying that he wants to control the Internet. Facebook investors currently estimate the net worth of FB as of September 11, 2020 is\u00a0$763.74B<\/strong>. In 2014, it was about\u00a0$80 billion, and Zuckerberg\u2019s share was about 25%. \u201c<\/em>Zuckerberg still owns over 375 million Facebook shares with a current value of over\u00a0$98 billion<\/strong>, making him the fifth-richest person in the world, behind Jeff Bezos, Bill Gates, Bernard Arnault and Warren Buffett.\u201d He recently dropped to number five after selling 2.9 million shares (worth more than $526 million).<\/span><\/p>\n

It is very likely that the money that Zuck and his wife will donate to charities will come from corporate funds designated for philanthropy. It will not make a dent into their personal fortune. Philanthropy of most corporate magnates is often hyped, as they usually do not disclose where the funds are coming from, nor are they obligated to. Last year, Zuckerberg\u2019s personal wealth rose by a mind-boggling $27.3 billion, says a report.<\/span><\/p>\n

After having made billions, the wealthy like the Zuckerbergs set out to do philanthropic work in the name of social justice. Their savvy lawyers set up tax evading trusts for the ultra-wealthy families in the form of a foundation. They hire professional staff with great vision who allocates the benefactor\u2019s wealth to worthy causes. Zuckerberg\u2019s lawyers set up Silicon Valley Community Foundation to do his charitable work. At the end of the day, \u201cit is all about generating positive press for charitable giving,\u201d for the world\u2019s richest people such as Mark and Priscilla Zuckerberg. Such publicity has lots of positive benefits. For example, while passing legislation, the US Congress most likely will take all his charitable initiatives into account, and will reward him through various tax breaks. That will add millions more for them in the bank.<\/span><\/p>\n

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So how much does Mark Zuckerberg really make per year? It depends on how much Facebook declares as its dividend. For example, if in the year 2020 Facebook declares a dividend of $500 million, he will earn $125 million. Again, the dividend will depend on how Facebook is faring in the market place at that time. It is interesting that since 2013, Zuckerberg had started to pay himself a low salary of only $1 per year to increase the company profit.\u00a0Facebook spent more than $23 million on security and private air travel for CEO Mark Zuckerberg in 2019, according to a financial filing published on April 10, 2020. That\u2019s up from about $20 million spent in 2018 and $9.1 million Facebook spent in 2017. Zuckerberg\u2019s annual salary remains\u00a0$1.<\/em><\/strong><\/span><\/p>\n

Every few years, Zuck gets bored with the charities that he and his wife are supporting. Like a little boy, he needs something new to play with. It seems he is in a constant battle to seek validation from other wealthy billionaires. The process perhaps helps him to cultivate \u201cinternal stimulus\u201d to make him more creative. After all, we are talking about a quirky millennial dad who in 2016 announced after the birth of his child that he will build an A.I. to run his home and to help him with his work. Now that he is bored in changing the education system, ending the era of mass incarceration, and the housing crisis etc., he has come up with a new agenda. His latest interest is to preserve the \u201cintegrity\u201d of the upcoming November election. Zuckerberg has announced that he and his wife will donate $300m \u201cto preserve [the] integrity of our elections\u201d by funding voting access initiatives.\u201d He said, \u201che was committed to expanding voting access and providing \u201clocal and state officials across the country with the resources, training and infrastructure necessary to ensure that every voter who intends to cast a ballot is able to\u2026His announcement comes as Facebook \u2014 the most popular social media platform in the world \u2014 faced increasing criticism over its handling of political misinformation, as well as repeated failures to prevent fake news and dangerous conspiracy theories from spreading online.\u201d This sudden shift is different from his all other prior initiatives and was met with fierce criticisms. \u201cMark Zuckerberg has raked in $40,800,000,000 since the pandemic began,\u201d former US Secretary of Labor Robert Reich wrote in a tweet. \u201cThat\u2019s 136 times the $300 million donation he hopes will distract us from all the ways he\u2019s allowed fascism and misinformation to erode our democracy.\u201d \u201cBillionaire philanthropy won\u2019t save us,\u201d he continued, adding: \u201cTax the rich.\u201d<\/span><\/p>\n

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Is former Labor Secretary too eager to predict doom and gloom? Or some people are being na\u00efve if they think that Zuck will be able to live up to his mission statement by bringing the world closer together? Will spending billions change the world from all its problems? If God put Mark Zuckerberg on this earth to change the fate of the millions of people who are suffering, and to bring major transformations to global society, then he should change himself first. He must stop acting like a modern day messiah, and change the unethical practices by his corporation. When people no longer will consider Facebook is unscrupulous by design, it is free of scandals, and its business practices are not being questioned, and Mark Zuckerberg has no wish to dominate the global market like other tech billionaires, only then he can set out to do good around the world.<\/span><\/p>\n

Zeenat Khan\u2019s\u00a0<\/em><\/strong>columns as a social justice seeker usually focus on the pursuit of justice and ways to combat racial and social injustice. Her writings also emphasize on how to defend human rights issues, gender equality, current social problems, and concerns relating to South Asia and beyond. She had majored in English and American Literature and minored in History during her undergraduate studies at the University of Rhode Island, USA. She lives in Maryland suburbs, outside of Washington, DC.<\/span><\/p>\n

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