Mark Zuckerberg is giving 99 percent of his money to charity
Mark Zuckerberg made the announcement in a letter to their newborn daughter, Max(Maxima Chan Zuckerberg) on his Facebook page
In the wake of the Birth of their baby girl Max, Facebook CEO Mark Zuckerberg(from SAN FRANCISCO ) and his wife Priscilla Chan Pledged to give 99% of their Facebook shares to charity over their lifetime currently valued at about $45 billion.
The donation amounts to $45billion (£30billion) at Facebook’s current value.
On December 1, 2015, the couple Posted an open letter to their newborn daughter, Max Chan-Zuckerberg and Chan explain that they want Max to “grow up in a world better than ours today,” and, to that end, commit to give 99 percent of their Facebook shares worth about $45 billion right now to charitable causes.
The billionaire Facebook founder Zuckerberg pledging nearly his entire fortune to charity. He and Chan will still be very, very rich at the end of it – 1 percent of $45.5 billion is about $455 million – but they will have engaged in one of the greatest acts of humanity in human history.
Mark Zuckerberg and Dr. Priscilla Chan celebrated the birth of a baby girl with the stunning announcement they plan to give away most of their fortune through a new initiative to “advance human potential and promote equality for all children in the next generation.”
“Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities, “Mark Zuckerberg and Priscilla Chan wrote to their daughter. “We know this is a small contribution compared to all resources and talents of those already working on these issues. But we want to do what we can, working alongside many others.”
Facebook’s Chief Operating Officer Sheryl Sandberg commented on Facebook: “This is a beautiful letter and an incredible commitment to future generations.”
The pledge was made in an open letter to their newborn daughter, Maxima
Mr.Zuckerberg and Chan said they were forming a new organization, the Chan Zuckerberg Initiative, to manage the money, through an unusual limited liability corporate structure. ” Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities,” they wrote.
Facebook said Zuckerberg’s gradual dispersal of Facebook shares would not affect his status as the controlling shareholder of Facebook “for the foreseeable future.” Zuckerberg has committed to disposing of no more than $1 billion of Facebook stock each year for the next three years, Facebook said.
Zuckerberg will continue his role as chairman and CEO “For many, many years,” Facebook Said in a statement.
“Mark and Priscilla are early in their careers and will continue to lead active lives – Priscilla as a pediatrician and Founder and CEO of the Primary School, and Mark as the leader of Facebook,” according to the statement. They have been very fortunate in their work and do not want to wait until later in life to give back. Instead, they believe in pursuing philanthropy concurrently with pursuing their professional careers.”