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Facebook's Mark Zuckerberg and Others Join Giving Pledge

Facebook's Mark Zuckerberg is the one of the latest billionaires to sign on to the Giving Pledge campaign started by Bill Gates and Melinda Gates and Warren Buffett. The Giving Pledge calls for billionaires to pledge at least half their net worth to charity, in their lifetimes or at death.

The list of those signed on to the Giving Pledge now has 57 families. The recent batch of billionaires include AOL co-founder Steve Case, investor Carl Icahn and Michael Milken who join Larry Ellison, George Lucas and Michael Bloomberg in the ultimate big givers roll call.

"People wait until late in their career to give back. But why wait when there is so much to be done?" said Mark Zuckerberg in 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."

A full list of those taking the pledge and personal letters by many of these pledgers outlining their commitment to give is available online at www.givingpledge.org. Carl Icahn said that "until Bill, Melinda and Warren started this project, I never considered going public with my intentions. However, I certainly see the value of a project that encourages wealthy individuals to step forward and commit to use their wealth for the common good. I hope that by adding my voice with those who are supporting this project, we will all encourage others to participate."

Tags: bill and melinda gat..., bill and melinda gates foundation, bill gates, dustin moskovitz, facebook, giving pledge, mark zuckerberg, melinda gates, philanthropy, warren buffett

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RSVIP: Cinema Society Toasts "the social network" with Justin Timberlake

by Jeffrey Slonim (RSS feed) —

Filed under: Events

Barreling down the red carpet at The Cinema Society New York screening of "the social network," Oscar-winning actor Adrien Brody ("The Pianist") grappled hands firmly with RSVIP and stated categorically that while he is not on Facebook, "There is a bogus me on there."

A breakout success, "the social network" is based on a book by Ben Mezrich called "The Accidental Billionaires: The Founding of Facebook."

Mezrich also wrote "Bringing Down the House: The Inside Story of Six MIT Students Who Took Vegas for Millions," made into the hit film "21."

In "the social network," pop icon Justin Timberlake plays Napster founder Sean Parker, a dangerously slick character who arranged considerable early funding for Facebook. "Justin was always the suave one," former fellow 'N Sync band member Lance Bass told Luxist on his way into the theater. "Even at 13, he was Mr. Joe Cool. He's been ready for this role ever since he was a kid."

At the theater, Timberlake wore a sleek, double-breasted sweater and Clark Kent glasses. "We had a lot of fun making this movie together," he mentioned at the side of his new BFF, Jesse Eisenberg, far right.

"Never met the guy," Timberlake answered a reporter when asked if he had ever encountered Parker.

"500 million members becomes a phenomenon," continued Timberlake. "And this movie is the catalyst . . . the story of how [Facebook] came to be."

The film depicts Facebook founder Mark Zuckerberg as brilliant, conflicted, and socially awkward in the extreme. But the truth may be more complex. "Dozens and dozens of lawyers have vetted this script within an inch of its life," explained Aaron Sorkin, who penned the screenplay and indicated that some insightful scenes had to be cut.

Tags: facebook, jesse eisenberg, justin timberlake, Mark Zuckerberg, rsvip, the social network, winklevoss brothers

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LeBron James Part Of Sun Valley Billionaire Confab

by Deidre Woollard (RSS feed) —

Filed under: Sports, Wealth

As the LA Times points out, Kobe Bryant may won the NBA championship but it's Cleveland Cavaliers player LeBron James who the billionaires want to talk to in Sun Valley this week. The young player who is building his basketball and financial empire is part of this year's annual Allen & Co. conference in Sun Valley, Idaho. The five-day conference includes many of the world's richest people including Bill Gates, Warren Buffett, Sumner Redstone, Sergey Brin, Mark Zuckerberg and Diane von Furstenberg. Another attendee likely to be in demand will be Twitter co-founder Evan Williams.

The conference takes over the area with private jets filling the local airport and hotel rooms selling out as both attendees and media flock to the event. While the event is supposed to be a hush-hush affair the press often gets the rare chance to spot the wealthy in casual clothes relaxing and enjoying Sun Valley's beautiful scenery. Meanwhile, behind closed doors the future of media itself and how to best monetize the digital world will be one of the topics of conversation.

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Tags: lebron james, LebronJames, mark zuckerberg, MarkZuckerberg, sun valley, SunValley

Who's Up, Down & Out on New Forbes 400 Richest List

by Jared Paul Stern (RSS feed) —

Filed under: Wealth

Forbes just released its annual Forbes 400 list of the richest Americans, and billionaire Microsoft founder Bill Gates (above) is back on top after briefly ceding first place to Warren Buffett this spring. Gates has a net worth of $57 billion as opposed to Buffett's $50 billion - $12 billion less than he had several months ago before Berkshire Hathaway's stock plummeted 15%. Buffett isn't the only one to suffer a major reversal. The year's biggest loser was Sands casino mogul Sheldon Adelson, No. 15, whose fortune fell $13 billion in the past 12 months - about $1.5 million per hour, Forbes notes - to $15 billion.

Adelson's fellow casino kingpin Kirk Kerkorian, No. 27, was another underachiever, losing $6.8 billion this year. Still, they were both better off than the 33 moguls who fell off the list altogether due to declining fortunes. On the plus side, 31 new plutocrats moved up to take their places, including Facebook founder Mark Zuckerberg, 24, who makes his debut on the list with an estimated net worth of $1.5 billion.

Other Forbes 400 first-timers include fertilizer tycoon Alexander Rovt, car dealer and art collector Norman Braman, and Patrón tequila founder John Paul DeJoria. Meanwhile, New York City's billionaire mayor Michael Bloomberg was the year's biggest gainer, as his net worth jumped $8 billion to a total of $20 billion, snagging him the No. 8 position. Also worth noting among this year's stats:

The average net worth of Forbes 400 members is $3.9 billion.
There are 42 women on the list with an average net worth of $4.2 billion.
For the 2nd year in a row, the minimum net worth needed to make the list is $1.3 billion.
The assembled net worth of the richest Americans rose by only 2%, or $30 billion, to $1.57 trillion this year.

See the complete list here.

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