Facebook's Young Billionaire Friends Charity - NBC Bay Area

Facebook's Young Billionaire Friends Charity



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    PALO ALTO, CA - OCTOBER 06: Facebook founder and CEO Mark Zuckerberg speaks during a news conference at Facebook headquarters on October 6, 2010 in Palo Alto, California. Zuckerberg announced the addition of personal groups of friends and the ability to download everything you have posted to Facebook. (Photo by Justin Sullivan/Getty Images)

    What does Mark Zuckerberg, Carl Icahn, Bill Gates and Warren Buffet have in common?

    Besides being in the billionaire club, the young Facebook founder has agreed to join Buffet and Gates effort to have rich men give away their fortunes.

    Zuckerberg is the latest member to sign up for "Giving Pledge," which has 50 other members, including Oracle CEO Larry Ellison, AOL co-founder Steve Case and filmmaking legend George Lucas.

    Zuckerberg has already agreed to give away $100 million to the Newark public school system. But he has another $6.9 billion sitting somewhere in his house that he can give away.

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    And like many of the people on the list, the young face of the Social Network has a bit of an image problem after a movie depicting his rise to fame showed him in some unflattering situations. Not to mention the heat Zuckerberg has taken for his company's perceived privacy issues.

    There is also the tax benefit that doesn't hurt. Cathy Lynn Grossman of USA Today has an interesting break down on how much Zuckerberg stands to gain by giving away, especially if President Barack Obama gets his tax cut compromised passed through Congress.