Ending on an Up Note Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
Ending on an Up Note
December 18 -- where did the last three months go?! I would have sworn it was Labor Day just last week. This quarter has been a blur for me. Perhaps it's the unusually warm weather we're experiencing in New York -- by all accounts, it still feels like late September, with a prediction for 65 degrees on Christmas day -- ? Or could it be that the last three months might just have been the busiest ever for Marcum?
We're about to "close the books" on 2015 and usher in 2016 (I needed to get some accounting terminology in there). This is usually when I start to reflect on the year that's about to end and what next year is likely to bring.
Trump the Blow-Horn Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
Trump the Blow-Horn
I've tried to not write anything controversial or political in a while, but this week I feel I must. I know these are the posts that get the most feedback, not all of it flattering or positive, but this week, Donald Trump really got under my skin.
Let me start by trying to get into Donald's head back in May or June, when undoubtedly he took a flyer, as he's done in the past, and announced his candidacy for President of the United States. Trump, being the master of self-promotion that he is, surely thought the attention couldn't be bad for his brand and his business. But as soon as he opened his controversial mouth, the opposite started to occur. He lost his coveted show on NBC, lost the Miss Universe Pageant and lost the PGA golf event at Trump National Doral Golf Club in Miami. When we all thought he had really shot himself in the foot with his run for President, national polls of potential Republican voters showed the opposite. Trump surged. And since then, every time we think he's done it again by sticking his foot in his over-sized mouth, his poll ratings climb to the point where today he's leading with 35% of those polled, with his next closest challenger at just 16%.
For Goodness' Sake Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
For Goodness' Sake
When Mark Zuckerberg announced on Tuesday that he and his wife, Priscilla Chan, plan to donate 99% of their Facebook shares - estimated at roughly $45 billion - to a new LLC they will set up for philanthropic purposes, the financial world practically stopped turning. Even the most jaded of us had to stop and take a breath, not only because of the sheer magnitude of the gift, but because of the magnitude of the gesture itself. Imagine building what some would consider one of the world's most influential companies, one that probably touches nearly every person on the planet and one of the most valuable in history, and then virtually giving it away in a feat of altruism that has no precedent.
But also, let's put this in real dollar perspective. Assuming no further increase in the value of their Facebook shares, or increases tied to dividends or salaries, or anything else that increases their net worth, the Chan/Zuckerberg's will still be left with a mere $450,000,000 to get by on. It may not get them into 157 West 57th Street or 432 Park Avenue, and the Boeing Business Jet may be a bit excessive without being a member of the billionaire's club, but they can most likely live their lives very nicely on the earnings from their $450,000,000 nest egg.