Facebook co-founder and CEO Mark Zuckerberg, who today announced the birth of his first child, has pledged 99 percent of his Facebook shares — currently worth about $45 billion — to charitable causes.
Zuckerberg’s wife, Dr. Priscilla Chan, gave birth to daughter Max last week.
Reporting the news of his daughter’s birth today in a Facebook post, Zuckerberg's announcement was linked to a 2,200-word letter he'd penned to his daughter, regarding the type of world he envisions for her.
In the announcement, Zuckerberg said the couple is "committed to doing our small part to help create this world for all children.
We will give 99% of our Facebook shares -- currently about $45 billion -- during our lives to join many others in improving this world for the next generation.”
In the letter, Zuckerberg, 31, claimed the couple’s “initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities.”
A new entity, the Chan Zuckerberg Initiative, will be established for the purpose of managing those charitable funds.
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