Mark Zuckerberg’s ‘charity’ donation is not all that it seems

FACEBOOK boss, Mark Zuckerberg seems to have gone bonkers and given away all his wealth — $45bn (€41.37bn) on paper — to a foundation he has set up along with his wife, Priscilla Chan.

That, at least, is the initial impression one gets from a series of news reports.

Zuckerberg, however, is actually transferring his wealth into a limited liability company which, as the commentator Edward Luce points, out would not be considered a charity by the US Inland Revenue.