Mark Zuckerberg & Priscilla Chan Pledge 99% Of Their Facebook Shares To Charity
The Zuck is on a roll. He announced in September that Facebook will be helping the UN provide Internet access to refugee camps. In November, he revealed that he will be taking a two-month paternity leave when his daughter is born, setting a huge precedent for working dads everywhere. And now, he's just made one of the largest charitable pledges in history.
In an open letter to their newborn daughter Max, Mark Zuckerberg, the co-founder and CEO of Facebook, announced today that he and his wife Priscilla Chan would give 99% of their Facebook shares throughout their lives — holdings currently worth $45 billion — to charity.
Chan and Zuckerberg said they were forming a new organization, the Chan Zuckerberg Initiative, to manage the money.
The pledge is focused on two main goals: advancing human potential and promoting equality. They define the first goal as "pushing the boundaries on how great a human life can be," including initiatives on medicine, economic opportunity, and access to information. The second plan focuses more on reducing poverty and empowering historically underrepresented groups. "Our society must do this not only for justice or charity, but for the greatness of human progress," they write.
Usually new parents are focused on themselves, but Zuckerberg and his wife are too busy looking out for the rest of the world. Incredible move (but how are they ever going to top this birthday present?!).
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