Mark Zuckerberg says billionaires sometimes accumulate unreasonable wealth

Mark Zuckerberg says billionaires sometimes accumulate unreasonable wealth

- It may be the first time a billionaire and a socialist agreed on anything

- Mark Zuckerberg surprisingly found common ground this week with Senator Bernie Sanders

- The senator had recently declared that billionaires should not exist

- The Facebook CEO concurred with Sanders saying on some level, no one deserves to have that much money

- According to him some of the wealth that can be accumulated is unreasonable

- Zuckerberg recommended that such billionaires should divest much of their wealth through philanthropy

Facebook CEO Mark Zuckerberg, the fifth richest person in the world with many billions of dollars to his name, has given his view on billionaires.

Zuckerberg who currently has a net worth of nearly $70 billion according to the Bloomberg Billionaires Index, thinks it is unfair to have such wealth.

Facebook founder says billionaires sometimes accumulate unreasonable wealth

Mark Zuckerberg’s townhall meetings with staff are a longstanding Facebook tradition. Photo: Mark Zuckerberg.
Source: UGC

He made the comments on Thursday, October 3, during a live streamed session of questions-and-answer with Facebook staff where he talked about billionaires, inequality and encryption.

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The billionaire was answering a question about the Democratic politician Bernie Sanders' comment declaring that billionaires should not exist.

"I don't know if I have an exact threshold on what amount of money someone should have, but on some level no one deserves to have that much money," the Facebook CEO said.

Facebook founder says billionaires sometimes accumulate unreasonable wealth

Democratic politician Bernie Sanders' had commented declaring that billionaires should not exist. Photo: CNN
Source: Facebook

According to him, he understands where Sanders is coming from and this might just be the first time a billionaire and a socialist agreed on anything.

Sanders, a 2020 presidential hopeful, made the comment while outlining his proposal for a wealth tax and a national wealth registry.

“I think if you do something that’s good, you get rewarded. But I do think some of the wealth that can be accumulated is unreasonable,” Zuckerberg added

Facebook founder says billionaires sometimes accumulate unreasonable wealth

Mark Zuckerberg his wife Priscilla Chan have pledged to divest much of their wealth over their lifetimes through philanthropy. Photo: Mark Zuckerberg.
Source: Facebook

Zuckerberg, a billionaire himself, noted that he and his wife, Priscilla Chan, have pledged to divest much of their wealth over their lifetimes through philanthropy.

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He had previously pledged to give away 99% of his Facebook shares.

But he acknowledged criticism that that kind of giving leads to a small group of rich individuals selecting what does and does not get support.

The alternative would be the government to choose all of the funding for all the stuff according to the Tech guru.

“I think you can think at the same time both that it is unfair that any individual might have that much wealth," he said.

"...still it is better for everyone that there is certain choice and competition of ideas that get pushed out there,” said Zuckerberg.

In other news, Legit.ng reported that Nigerian actor, Uche Maduagwu, wooed billionaire daughter. DJ Cuppy for marriage in an interesting way.

The actor promised to wash Cuppy's pants and dress her everyday if she agrees to be his wife.

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