Facebook Inc (FB) Founder Zuckerberg Enters U.S. Political Arena

Published on

Facebook Inc (NASDAQ:FB) founder Mark Zuckerberg is up for the next challenge. This time to liberalize the U.S. immigration and visa system.

Zuckerberg, who earlier donated $500 million worth of Facebook Inc (NASDAQ:FB) shares to Silicon Valley Community Foundation, is shelling out another $20 million to form a political action committee.

Zuckerberg’s group consists of 100 Silicon Valley chief executives, including Yahoo! Inc. (NASDAQ:YHOO)’s Marissa Mayer. The group will also focus on education, along with immigration reforms. These are the two most crucial issues for Silicon Valley, which needs a continuous flow of top talents to remain competitive.

The formation of the political group will reunite Mark Zuckerberg with is Harvard room-mate and longtime friend Joe Green who is also a successful Silicon Valley entrepreneur. The pair is currently pitching to attract other financial supporters.

Technology firms have been complaining for years that the country’s strict immigration control system prevents them from hiring skilled overseas graduates. The skilled foreign workers are unable to get permanent visas, so they are forced to leave the country. And many of them are so frustrated with the U.S. system that they don’t even bother coming to the country.

Almost 11 million illegal migrants are living in the country.

Earlier this month, all the 100 executives including Zuckerberg co-wrote a letter to President Barack Obama. Calling the current immigration law “outdated and inefficient;” the group urged Mr. President to address the problem as soon as possible.

Recently, the Facebook Inc (NASDAQ:FB) founder hosted a fundraiser at his home in California for the Republican New Jersey governor Chris Christie, that came as a surprise to his Left-wing admirers. According to the San Francisco Chronicle, his political action committee is led by Rob Jesmer and Jon Lerner, the Right-wing Republican political consultants.

Mr. Obama said there are already two bills in Senate to address the same problem. Senators from both parties are working to overhaul the country’s immigration system.

Leave a Comment