CEO Mark Zuckerberg: There is no denying the fact that Facebook Inc (NASDAQ:FB) CEO Mark Zuckerberg is one of the brightest minds in the tech space. After all, he has taken his social networking site from nothing to something huge in a relatively short period of time. With all this in mind, you may not expect Zuckerberg to deviate much from his tech life. However, this does not seem to be the case.
Hedge funds, on the whole, were very bullish on Facebook last quarter. The total size of the funds we track that were invested in the company grew by nearly 40% from Q3; that’s a huge spike (see why it’s always important to pay attention to the smart money).
It appears that Zuckerberg is getting involved in politics. No, he isn’t running for president of the United States, but he is joining forces with other high level executives to form an “issues advocacy group,” as reported by Politico.
Generally speaking, the group is going to focus most of its attention on immigration reform.
At this point, you may be wondering why Facebook Inc (NASDAQ:FB)’s Zuckerberg would be interested in dabbling in politics. While there is no way of saying for sure until he speaks on the subject, which he has yet to do, Politico does a great job providing information with the following explanation:
“The group is forming at a time when the tech industry is stepping up its immigration efforts, with executives advocating key provisions to help in the battle for global talent. But those executives also say they support reforms to create a path to citizenship for undocumented people for the good of the nation and economy.”
Sources have said that Zuckerberg, along with other executives, will be working with both Republican and Democratic personnel to create the group and decide how to best move forward.
This San Francisco Chronicle article sheds more light:
“Word is the IE move was organized by Joe Green, Zuckerberg’s old Harvard roommate. And we’ve heard the Facebook CEO has pledged millions to the cause — one source says as much as $20 million — and has gotten others to pledge as much as $2 million to $5 million each.”
So, what do you think about Zuckerberg getting involved in politics? Is this a good career move? Is he doing this for all the wrong reasons? Share your thoughts in the comment section below.
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DISCLOSURE: I have no positions in any stock mentioned.
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