Mark Zuckerberg is a giving kind of guy with Facebook Inc (NASDAQ:FB) stock. On the day Facebook’s satellite exploded while in the care of Elon Musk’s SpaceX, now a division of electric car manufacturer Tesla, Facebook stock was active. Thursday we learned the Zuckerberg and his wife, Priscilla Chan, sold $95 million in Facebook Inc (NASDAQ:FB) stock to benefit charity just days before the disaster. That might be good trade timing except it was Musk’s net worth that dropped the most after the event, not impacting Zuckerberg much at all.
Zuckerberg had a dream: putting the Internet into every pot in Africa with the FB satellite
Zuckerberg had plans to become part of an elite club: a corporation operating its own satellite in space. The Facebook satellite that Musk’s SpaceX was contracted to deliver was to hover over the African continent and provide internet access amid a generally poverty stricken region.
The region is in need of a 21st century upgrade, as adult literacy rates in places such as Zimbabwe, at 94.2%, show promise and potential to advance. Rather than put a chicken in every pot, the Facebook Inc (NASDAQ:FB) CEO wants locals in Africa to become part of a globally connected and intellectually aware world.
In part Zuckerberg’s goals are similar to that of Bill Gates, who advocates that increasing world wealth in poverty stricken areas does not damage the environment or put strains on world resources. Connect Africa to the world and they can compete with Europe, America and Asia and fight radicalism with weapons of intellect and ideas rather than resulting in a battlefield littered with suicide vests.
These plans might be required to be on hold as new carriers and commitments must be planned and executed. Zuckerberg, for his part, said he was “deeply disappointed” with the incident much like a mother or an admired grade school teacher is saddened by inappropriate actions.
The law of nature being what it sometimes appears to be – those working to better the universe eventually get punished – Zuckerberg and Facebook Inc (NASDAQ:FB) had their efforts dashed by another global do-gooder, Elon Musk, who was actually most punished.
Tesla stock down 10% but real question is regarding future after numerous launch failures
It was Musk who was most punished after the spectacular rocket explosion that took place yesterday. As the UK Daily Mail pointed out, the brainchild behind SpaceX and Tesla witnessed his net worth drop by $390 million. The title of the article, “Billionaires at War,” might be a touch misleading.
If this was a war started by an accident, then Zuckerberg is the winner financially.
Facebook Inc (NASDAQ:FB) stock traded at a weekly high of $126.64 Monday before witnessing a price decline leading into the couple’s stock sale. The family’s two charitable arms, the Chan Zuckerberg Foundation and CZI Holdings LLC., sold shares Tuesday and Wednesday, at which time the price was trading near $125.50. Today however, in the wake of the satellite disaster, the stock is trading near highs at $126.58, almost unchanged on the week.
The story for Musk is clouded. That’s not just because Tesla stock price is now down near 10% after the crash, currently testing the $200 level. More material are Musk’s plans to be a major space exploration partner to governments and corporations are now a question mark.