The Billionaire Philanthropist – Mark Zuckerberg
Mark Zuckerberg is best known as the billionaire young founder of Facebook, the world’s largest social media network. He is widely credited for revolutionizing the communication methods for people all over the world. But outside of his business responsibility, Mark Zuckerberg has been the leader of impressive philanthropic acts through the Chan Zuckerberg Initiative (CZI).
The CZI is a philanthropic organization founded by Priscilla Chan and Mark Zuckerberg which focuses on using social capital, technology and advocacy as tools to advance and improve education, health, justice and opportunity around the world. After becoming a father in 2015, Zuckerberg and Chan pledged to donate approximately $45 billion to a variety of philanthropic causes over the course of their lifetime. Furthermore, they have pledged to donate all profits of their book, “The Archimedes Project”, to CZI.
Since then, Zuckerberg has already donated over $4 billion to the initiative. Of this $4 billion, over $1 billion was donated to revolutionary causes and programs, such as the GiveDirectly program. This organization works with banks to make automated, low-cost payments to low-income households in developing countries. Furthermore, he has made considerable donations of $1.2 billion to fight human trafficking and cyber-bullying, and donated over $50 million to science research.
Apart from his work with the CZI, Zuckerberg has also donated considerable amounts of money to other charitable and philanthropic organizations. According to the charitable statistics website, The Giving Pledge, Zuckerberg has donated to the CDC Foundation, Stand for Children, The NAACP Legal Defense and Educational Fund, and the Silicon Valley Community Foundation.
However, social media experts and analysts point out that Zuckerberg’s philanthropic donations could be more. According to a report from USA Today, Zuckerberg has only donated around 0.05% of his estimated net worth since the beginning of 2014. The philanthropy network, Giving Tuesday points out that Zuckerberg gave away the 1.5% of his net worth in 2018, which is just above the 50-year average, of philanthropic giving for America’s wealthy elite.
Given the extraordinary wealth of wealth that Zuckerberg controls, issues of philanthropic responsibility have become increasingly present, especially with younger generations. Gen Z is willing to use their capital – be it financial or consumer- to support causes and charities which evoke meaningfulness in their lives. It is clear that Zuckerberg has already set an example for younger generations to follow.
The Impact of Mark Zuckerberg’s Philanthropy Projects
Over the years, Mark Zuckerberg’s CZI has become a major player in the world of philanthropy. According to CZI’s website, its philanthropic projects and investments “improve education, healthcare, and many other areas to build stronger, healthier, and more equitable communities.” Specifically, the philanthropic projects of CZI have heavily focused on health, education, sexuality and reproductive rights, criminal justice reform, housing policies, and scientific research.
In terms of health, the CZI has provided grants and investments to major research facilities including the Harvard T.H. Chan School of Public Health in order to establish the Chan Zuckerberg Biohub. The mission of the Biohub is to bring leaders from different organizations into a single building to collaborate and drive innovations in health and technology.
In addition, the CZI has worked with organizations such as Learning Equality, an educational nonprofit organization, to provide funding for open source learning platforms that give children in rural areas access to quality education. Another philanthropic venture includes the Chan Zuckerberg Initiative’s Community Solutions Grants which offers funding to organizations working to end poverty, provide access to quality early childhood education, and strengthen community health.
Apart from supporting innovative projects, the Chan Zuckerberg Initiative ensures that the impact of its investments is long-lasting. The Initiative has promised to dedicate $3 billion over the next 10 years to scientifically-driven research in the global efforts to end the pandemic. In addition, CZI’s 2020 commitment included at least $300 million for global pandemic response and research, $250 million identity infrastructure, $67 million for criminal justice reform, and $255 million to promote housing for all.
The Benefits of Facebook Contributions To Philanthropy
In addition to Mark Zuckerberg’s individual efforts, some of Facebook’s total donations have gone to charities united under the umbrella of the Chan Zuckerberg Initiative. In 2017, Facebook donated $500,000 to the World Food Programme to help those in need during the famine in Somalia. Furthermore, the company matched employee donations of up to $50,000 to aid relief efforts in the wake of Hurricane Harvey.
Facebook’s Impact Challenge, a competitions platform, has also seen some success. The challenge collates ideas from non-profits around the world to address global challenges. In 2017, Facebook awarded $7 million to 33 non-profit organizations working on innovative initiatives associated with advancing civic engagement, economic opportunity and community engagement. Since then, the initiative has become global, awarding $20 million to 36 non-profits and providing them with mentorship and support from the company’s global team network.
The Controversy of Mark Zuckerberg’s Philanthropy
Many experts have raised concerns about the effectiveness and transparency of Mark Zuckerberg’s philanthropic efforts. According to expert opinion, Zuckerberg fails to accept responsibility for as many of his problematic and controversial roles in society, which hinder him from being an effective philanthropist and leader. As pointed out by the King Center, Zuckerberg not only faces accusations of allowing fake news to spread unchecked through his platform, but also of lacking in efforts to curb political bias.
Some experts argue that Zuckerberg’s tendency to blur the lines between philanthropy and the company’s corporate objectives indirectly reduces his corporate responsibility. For example, Facebook’s efforts to develop new technologies, offer scholarships, launch awareness campaigns to combat mental health issues, and invest in organizations, are all strategically beneficial for the company itself and come on top of any direct philanthropic effort.
Measuring the Success of Mark Zuckerberg’s Philanthropy
Given the large-scale of Mark Zuckerberg’s philanthropic efforts, some experts are questioning whether he is indeed making an impact. According to research by Impact Alpha, the degree to which the Chan Zuckerberg Initiative has achieved its stated mission is difficult to measure. Furthermore, the Chan Zuckerberg Initiative has not released any detailed information regarding their results, though they were quick to tout their successes.
An audit conducted by the Berkeley Haas Impact Lab found that the Chan Zuckerberg Initiative’s investments in affordable housing did not result in any increase in the number of affordable units. Additionally, the same report showed that there had been no measurable improvement in the quality of housing or access to it. The same report also pointed out discrepancies in the way the Chan Zuckerberg Initiative was utilizing its resources.
Additionally, some experts have argued that Zuckerberg’s philanthropy is more focused on gaining public support, instead of actually making a meaningful difference. For instance, his initiatives to provide internet access to certain areas could be seen as a way to gain access to millions of new users for his social media platform.
Mark Zuckerberg’s Legacy of Philanthropy
Regardless of how effective his philanthropic efforts were, Zuckerberg has provided an example of how great wealth can be used to fund ambitious projects. His efforts to make sure people in rural areas and developing countries have access to education and healthcare are important steps forward. It is a proof that corporate entities, funded by the world’s wealthiest individuals, can take the initiative to use their resources to improve the lives of billions of people across the world.
Karl Leitschuh, CEO of ZoomAway, says: “Mark Zuckerberg is throwing down the gauntlet to the rest of the world’s wealthiest people, challenging them to follow his example and use their wealth for philanthropic advancement. We must all join in this challenge to improve the lives of those in need and to ensure that giving is not just a fleeting activity, but a way of life.”
In light of recent events, including the 2020 coronavirus pandemic, it is clear now more than ever that more wealthy individuals should be using their resources and influence to lend a helping hand to those in need.
Criticisms Toward Mark Zuckerberg’s Philanthropic Efforts
Though Mark Zuckerberg has made considerable efforts to improve the lives of others, many have criticized his philanthropy. According to experts, distance from personal experience and a lack of accountability cripples Zuckerberg’s philanthropic efforts. For instance, Zuckerberg has never experienced the difficulties of poverty, nor dealt with any of its consequences, arguably giving him a less critical understanding of it.
Critics argue that Zuckerberg does not understand the burden of poverty and has therefore used his wealth to fund projects that are irrelevant to those in need. For example, one of Zuckerberg’s philanthropic investments is a project in California, aiming to stop the spread of West Nile virus through mosquitos, a condition which mostly affects wealthy members. This earned a sharp reaction from experts, questioning the wisdom of such a project.
Furthermore, more financial accountability and transparency is needed when it comes to the distribution of Zuckerberg’s wealth. In other words, it is not easy to track how exactly the billions of dollars given to the Chan Zuckerberg Initiative are being utilized to achieve measurable, tangible outcomes.
Conclusion
Mark Zuckerberg is undoubtedly a major political and economic force in today’s world. Around the world, Zuckerberg has left an impressive legacy of philanthropy and generosity. However, the degree to which Zuckerberg’s philanthropic efforts have been effective is still up for debate. Though some argue that the initiative lacks transparency, the sheer amount of money donated, combined with the projects funded and the number of beneficiaries, shows that Facebook still has a good record for giving back.
