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Facebook CEO will donate most of his wealth

  
Analysis, Education
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Well, if Mark Zuckerberg’s image wasn’t already bolstered enough by his recent appearance on 60 Minutes, today’s announcement might help polish it a bit more.

Zuckerberg is one of 17 of the latest billionaires to sign the Giving Pledge, a joint effort from Bill Gates and Warren Buffet to encourage wealthy individuals “to commit to giving the majority of their wealth to the philanthropic causes and charitable organizations of their choice either during their lifetime or after their death,” according to the organization’sweb site. The Wall Street Journal first reported the news early Thursday morning.

“People wait until late in their career to give back. But why wait when there is so much to be done?” said Zuckerberg, according to a press release. ”With a generation of younger folks who have thrived on the success of their companies, there is a big opportunity for many of us to give back earlier in our lifetime and see the impact of our philanthropic efforts.”

First officially announced by Gates and Buffett in June of this year, The Giving Pledge touts a list of 57 billionaires who have pledged to give a majority of their wealth away over the course of their lifetime.

Dustin Moskovitz, a co-founder of Facebook and #290 on the list with $1.4 billion, has also agreed to join Zuckerberg in signing. Other names new to the list include ex-AOL CEO Steve Case and investor Carl Icahn.Mr. Icahn ranks 24th on this year’s Forbes 400 list, at an estimated net worth of $11 billion. Zuckerberg, whose soaring second-market shares valuation of Facebook stock brings his estimated net worth to $6.9 billion, is new to this year’s Forbes 400 list at #35.  Gates and Buffettcontinue to top the list at #1 and #2, $54 billion and $45 billion, respectively. (more…)

Facebook's Zuckerberg is 'Person of the Year'

  
Education, Life
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Facebook founder and CEO Mark Zuckerberg has been named Time magazine’s ‘Person of the Year’ for 2010.

At 26, Zuckerberg has put himself on the map not only as one of the world’s youngest billionaires, but also as a prominent newcomer to the world of philanthropy.

Earlier this year, he pledged $100 million over five years to the Newark, N.J. school system. Now, he’s in the company of media titans Carl Icahn, 74, Barry Diller, 68, and others who have joined Giving Pledge, an effort led by Microsoft founder Bill Gates and investor Warren Buffett to commit the country’s wealthiest people to step up their charitable donations.

Zuckerberg owns about a quarter of Facebook’s shares.

Federal Reserve Chairman Ben Bernanke received the honor last year. The 2008 winner was then-President-elect Barack Obama. The 2007 winner was Russian Prime Minister Vladimir Putin.

Other previous winners have included Bono, President George W. Bush, and Amazon.com CEO and founder Jeff Bezos.

Time’s ‘Person of the Year’ is the person or thing that has most influenced the culture and the news during the past year for good or for ill.

8 MISTAKES GREAT TRADERS NEVER MAKE

  
  Education
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  1. Try to close a position but accidentally DOUBLE it instead.
  2. Put a swing trade on and realize AFTER the close that earnings are coming soon. Like the next morning.  Before the market opens.
  3. Buy the CALLS in a stock that is breaking out at what they think is a bargain price, only to find out later that they actually bought the PUTS.
  4. Constantly drive by their ex girlfriend’s house to see if she is dating that idiot biker guy with the tats who will never love her the way they would….
  5. Knock off early for the day to go rollerblading, sure that they put a hard stop in on their position before they left (but didn’t).
  6. Continuously hit the “submit” button on their trading platform when their order “hangs up” only to find out that they bought their position eight times.
  7. Listen to the whole “Best of WHAM” album online, unaware that Spotify is auto-posting that info to their Facebook timeline.
  8. Think they have a “one cancels other” limit and stop in place and take a long lunch after their position hits it’s profit target.  Then come back later in the day only to learn that price reversed, hit their stop (making them net short), and then rallied.

Facebook now 'worth $33 billion

  
Analysis, Education
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Facebook is now worth as much as $33.7 billion, after investors have paid up to $76 for a share in the company ahead of its much-hyped flotation on the stock market, according to a report.

The Financial Times has said that the implied valuation means that Facebook is now has a higher valuation than technology giants such as eBay and Yahoo!, which have capped market values of $30.1 billion and $18.3 billion respectively.

David Gelles, a reporter for The Financial Times wrote: “Common stock in Facebook is trading as high as $76 a share as investors scramble to get a piece of the company before it files for an initial public offering, which analysts say could be the biggest technology IPO since Google’s $1.67bn flotation in 2004.

“While Facebook and other successful Silicon Valley companies, such as Twitter, LinkedIn and Zynga, are delaying their IPOs because of perceived weak appetite on the public markets, some investors are not content to wait. They are acquiring stakes in technology companies while they are still private, hoping that their eventual IPOs will send share prices even higher.”

Facebook, which registered its 500 millionth member last month, is currently financed through a mixture of investment firms and venture capital companies. It is not yet know when the company will float, although there have been hints it will not be until 2011.

The company was the brainchild of Mark Zuckerberg while he was still studying at Harvard University and launched in February 2004. Zuckerberg remains the chief executive.

The Success Indicator

  
Education, Life
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2012 – I barely knew you.  Another year has passed and another one is ahead.  This is the single best of time year when you can begin to think about all the things you want to improve or achieve in the upcoming year.  Time management and goal achievement is all about planning.  If you’re not thinking ahead you’re falling behind.

Anyhow, I really liked this image I saw on Facebook about the difference between the way successful people view the world and the way unsuccessful people view the world. Obviously, there is no single indicator that is going lead to success and there’s certainly no holy grail to success, but I think this provides some pretty good general guidelines.  A lot of these are things I need to do some serious work on.  I hope you find it helpful and thought provoking as you plan the new year:

Successful people:
Compliment others
Forgive others
Accept responsibility for their failures
Keep a journal
Want others to succeed
Keep a “to be” list
Set goals and develop life plans
Continuously learn
Operate from a transformational perspective
Have a sense of gratitude
Give other people credit for their victories
Read every day
Talk about ideas
Share info and data
Exude joy
Embrace change
Keep a “to do” list. (more…)

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