Mark Zuckerberg received a net profit of $3.4 billion on Wednesday in as short a time as an hour. According to Forbes, this occurred due to Facebook’s second quarter earnings being much higher than expected. As a result, Facebook’s stock naturally rose by 6.5 per cent. What’s interesting to note is the fact that this quarter’s earnings were less than Q1s in which the company reportedly bagged $4.2 billion.
However, this all obviously doesn’t matter since Mr. Zuckerberg prefers giving all his earnings away. According to reports by Business Insider last year, Mark Zuckerberg gave away approximately 99 per cent of his Facebook shares that year.
He addressed this in a letter to his new-born daughter Max last year. In it he wrote: ‘As you begin the next generation of the Chan Zuckerberg family, we also begin the Chan Zuckerberg Initiative to join people across the world to advance human potential and promote equality for all children in the next generation. Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities.’
