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The Chan Zuckerberg Initiative: LLC for Philanthropy

Estate Planning
Michael Kosnitzky, March 2016

Download: The Chan Zuckerberg Initiative: LLC for Philanthropy (PDF, 599.66 K)

When Mark Zuckerberg and his wife, Priscilla Chan, announced that they would give away 99 percent of their Facebook shares (at the time valued at $45 billion), they chose to use an LLC instead of creating a private foundation.  In this way, the Chan Zuckerberg Initiative retains greater flexibility in how the money can be used. This decision should not have been so controversial.

Related Practice: Tax

Download: The Chan Zuckerberg Initiative: LLC for Philanthropy (PDF, 599.66 K)

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