@vincentchanco: When billionaires like Jeff Bezos and Mark Zuckerberg, despite donating large sums to charity, often still retain control of the money they give away. For example, when Mark Zuckerberg pledged to donate 99% of his Facebook shares, they were placed in an LLC he owns, allowing him to use the funds for various purposes, including supporting his own businesses or political interests. This setup also provides tax advantages, making it a strategic move for them.

Vincent Chan
Vincent Chan
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Region: US
Sunday 24 September 2023 20:14:39 GMT
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mjmakh
MJ :
it's not a coincidence that they all started to have charities,
2023-09-25 04:54:22
4070
technicalpause2
Schmebulock :
Is there an ethical way to become A billionaire in one's lifetime?
2023-09-26 07:22:00
308
gm123456_
GM123456 :
loopholes made by rich and used by rich. the whole system is rotten.
2023-09-25 21:41:06
1495
thetvguy3
thetcguy3 :
do the charities not receive the money
2023-09-25 09:51:22
130
notvladimir
Not Vladimir :
We all know that 😂😂😂 same thing with buying “art”.
2023-09-25 09:54:21
587
user36474159
S G :
Sad part is most of Americans don’t understand this lol
2023-09-25 12:03:58
361
english.with.mateusz
english.with.mateusz :
Not surprised at all 😅
2023-09-25 08:27:49
141
spamsforgennyy
Genesis🫧🧚‍♀️ :
That is greedy and sad
2024-12-09 08:44:14
0
frankgreene2
Frankie :
we are not surprised...cheating and not being forthcoming!
2024-12-23 23:36:59
0
dudewithloofah
Dudewithloofah :
Technically their making money when donating
2023-09-25 12:50:24
45
thatgirlshay1313
thatgirlshay13 :
I knew this. I see rich people do this in my own state. they act like they're good people with their "charities" too like we don't know 🙄
2025-01-15 06:38:49
2
reminis.sg
Rem.i'nis :
I need money to make money
2024-08-09 11:23:17
0
oringi200
Oringi :
Its not a donation if it goes to an LLC, since its a company, not NGO. NGOs can't do what ever they want with the money, everything they do must be..
2023-09-25 11:25:14
1
abrherba
Abraham Hernandez :
I don’t get it, if you donate something you loss it and someone else use it, is’nt?
2024-10-03 19:52:32
0
stephendavidruffles
Stephendavid Ruffles :
It's called a tax dodge
2023-09-30 01:24:03
0
ruffy749
ruffy :
so can he use the money on himself. like buy clothes, food, entertainment etc?
2023-09-25 05:41:16
3
chiron.haze
c h i r o n 🍉 :
⭐ disappointed, but not surprised ⭐
2023-09-27 00:36:26
2
harman.psingh
Harman Singh :
When they donate to their own fund, they have to prove the money is being donated to good causes. They can't just keep it
2023-09-25 16:44:28
0
ukie.black
Ukieblack :
So I just have to set up a llc and donate all my assets to me charity and claim the deduction and then use the funds for my own personal use 🤣
2023-09-26 02:16:34
19
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