In the first gesture to fulfil his pledge that he and his wife made last year, Facebook CEO Mark Zuckerberg has sold $95 million of the social networking giant's shares.
According to a US regulatory filing, The Chan Zuckerberg Foundation and CZI Holdings LLC sold Facebook shares worth $95 million before taxes, Forbes reported on Saturday.
"The sales likely netted more than $85 million after capital gains taxes, the report added.
The couple plans to give away no more than $1 billion worth of stock each year through 2018.
Last December, Zuckerberg and his wife Priscilla Chan pledged to donate 99 per cent of their Facebook shares -- about $45 billion -- to advance human potential and promote equality for children.
Declaring the "Chan Zuckerberg Initiative" as they welcomed their first girl Maxima Chan Zuckerberg, the couple said they have created a new foundation that would initially focus on "personalised learning, curing disease, connecting people and building strong communities".
"As you begin the next generation of the Chan Zuckerberg family, we also begin the Chan Zuckerberg Initiative to join people across the world to advance human potential and promote equality for all children in the next generation," they posted in a 2,200-word letter to their new-born daughter on Facebook.
"We will give 99 per cent of our Facebook shares during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others," the couple wrote.
Facebook currently has 1.71 billion monthly active users.
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The Maharashtra Home Department has attached 10 properties of the Birla Group in connection with the alleged scam of over Rs300-crore involving Birla Power Solutions Ltd (BPSL), says a report. The attachment also includes 69 bank accounts.
As per the report from Mumbai Mirror, the properties in Mumbai that have been attached include a row house at Grand Paradi, Kemps Corner, a flat in Ashoka Apartments on Nepean Sea Road, a 4,000 sq mt plot at Oshiwara, and an apartment in the Sagar Darshan Society on Carter Road in Bandra. The deputy collector, who has issued the notices, has also sought a valuation of these properties.
The Home Department notification, issued on 19 March 2016, states that the Maharashtra government was convinced that Birla Power Solutions would not be able to return the investors' and creditors' money. “The government has to protect the interest of the depositors, and hereby attaches the properties of the said financial establishment,” the notification said.
Advocate Ramakant Gaur had filed an objection on behalf of Yash Birla and BPSL saying there was no need to attach his ancestral property. “After the government notification, an affidavit is supposed to be filed by the competent authority within 30 days, which was done three days later. Moreover, there are no reasons assigned for attaching ancestral property such as the Grand Paradi row house," the newspaper quoted from the objection letter.
"...more than 9,000 of the 11,000 investors have been paid, and the value of the properties far exceeds the pending amount," the report added quoting Adv Gaur.
A smartphone and some carefully chosen apps (properly used) can transform your life in many ways, like staying in touch with your near and dear ones all the time, ordering things from the comforts of your home and perform all your banking transactions, explained Dushyant Saraswat, Vice President of Paytm. He was speaking at a packed workshop "Learn how your Smartphone can make your life so much easier" organised by Moneylife Foundation in Mumbai.
But there are downsides to technology as well and Mr Saraswat explained this to audience. “Nowadays everyone owns a smartphone and the phone may contain a wealth of information of the user. This can be misused if the phone ends up in the wrong hands. With technology ever-changing, it is important for consumers to protect vital financial and personal information stored on their phones—either in their phonebook, messaging, email or social media applications. You should never store ATM passwords, net-banking account numbers, PINs or other passwords on your phone, he advised. To prevent unauthorized access to your personal accounts or applications, you should always make use of a screen lock password,” he said.
According to Mr Saraswat, who handles wallet marketing and Digital Content at Paytm, one should, be very careful about downloading unofficial or unauthorised apps on mobiles. Also, instead of just using an anti-virus, one should use a complete security suite that will protect you from frauds or data theft, he added.
Almost every app allows you to sign up with your Facebook or Google account. While this allows hassle-free signups, you also end up sharing personal contact information stored in those accounts. Therefore, to avoid third-party applications misusing your account data, you should not put your phone number and date of birth on Facebook or Google, he cautioned.
Often, one has to maintain several passwords to sign in to different accounts. Therefore, many end up creating passwords that can be hacked very easily. Most often people create passwords using family member names or different versions of their date of birth. As these are commonly used, it is the easiest for hackers to crack. Therefore, one should always use a combination of text in upper case and lower case combination, numbers and special characters in between to create a safe password.
However, he said, creating a secure password is of no use if you share it with someone. There are several phishing scams where the caller pretends to be calling from the bank and asks for your account details and passwords. Banks will never do this. One should never share their passwords or PIN to anyone via text message or other messaging apps. One may receive emails, which appear to come from your bank asking you to signup or login to internet banking. Or emails announcing you won a lottery. You should always avoid clicking on such links, he said.
There are several applications available for download through non-official sources. One should only download applications from official sources such as Google Play Store (or iTunes). Mr Saraswat also recommended that one should install complete security applications and not just anti-virus apps. Complete security apps come with several additional features like anti-theft, anti-phishing, and internet security.
Mr Saraswat speaking at the programme. A complete recording will be uploaded in our channel youtube.com/MoneylifeTV soon.