Facebook founder Marky Mark Zuckerberg to pay 2B on his 5B sale of facebook shares in taxes
http://finance.yahoo.com/blogs/breakout/facebook-…
Guy in hipster glasses claims it's just a PR move to make facebook more appealing.
He's paying 35% when he could have found way around it.
I think the man is a OG, 2B is a lot of money to hand away like that.
Discuss
If he wants to waste his money that's his prerogative. I would rather not hand over $2bn to the government where it's going to go to conduct research on monkeys who are high on cocaine, but to each his own. The other question is whether it is because he thinks FB will tank and his stock options will be worthless or similar in benefit in the future when he gets access to a lower tax bracket. Money now > Money in the future.
The Wake Forest study on cocaine addiction in monkeys was actually pretty important in the medical community. The grant was for $72K and was put towards the salary of the researcher. If more government money was being spent on productive things like research, I would be a lot happier.
How did they pick who gets to be the monkey, and will they be accepting applications for another study anytime soon?
Have to be a WSO member for 3+ years and have 5000+ posts. Must be an expert with Excel.
man these guys are so full of shit.
What's with the resentment? Guy says Zuckerberg is an asshole for paying what he's "supposed to," then goes on to say that they should enforce the tax laws?
feels like Sesame Street.
yea that guy came off as a massively bitter tool to me
How do you even hand $2b to the IRS? I mean, from a logistical standpoint.. do you just cut a giant check? Do you back up a dump truck filled with cash? Do you hand them FB securities and let Uncle Sam figure out how to sell them?
Two ways I see this right now because no way in hell someone willingly gives up that much cash:
1 - American society is fucked up right now. Someone complaining about a 2B tax bill would probably start nationwide riots among the 50% of the population on gov assistance. People with money have become the enemy - what better target than a guy trying to avoid a 2B tax bill? Zucky could just be playing it safe and keeping a (relative) low profile. Just take the cash, pay the bill and be done with it.
2 - Zucky is leveraged to the hilt and needs cash. Yes, its unlikely that he's leverage to the tune of 5B but the guy has had some pretty serious legal battles and expenditures and needs to pay off God knows what else. I'm sure that a cash inflow wouldn't be unwanted right now.
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