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Mark Zuckerberg is donating USD45 billion to charity


Facebook CEO Mark Zuckerberg and his wife Priscilla Chan have officially become parents, welcoming their firstborn daughter Max to the world, and announcing that they will donate almost all of their Facebook shares to charitable purposes.

The baby was born last week, but the couple just shared the news today along with an open letter which Zuckerberg posted on his Facebook page.

He wrote the letter to his new-born daughter, pledging to give away 99 percent of his and Chan shares, which are currently worth about USD45 billion – in order to make the world a better place for the next generation.

In the letter, Zuckerberg also outlined a number of ways that he and his wife would like to help the world, including promoting equality and advancing human potential through the couple’s new organisation named the Chan Zuckerberg Initiative.

"For your generation to live in a better world, there is so much more our generation can do.
Today your mother and I are committing to spend our lives doing our small part to help solve these challenges. I will continue to serve as Facebook's CEO for many, many years to come, but these issues are too important to wait until you or we are older to begin this work. By starting at a young age, we hope to see compounding benefits throughout our lives.
As you begin the next generation of the Chan Zuckerberg family, we also begin the Chan Zuckerberg Initiative to join people across the world 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.
We will give 99% of our Facebook shares -- currently about $45 billion -- during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others."

The Chan Zuckerberg Initiative is somewhat similar to the Gates Foundation started by Microsoft founder Bill Gates and his wife Melinda Gates, where Zuckerberg controls all the shares and allocations of those shares for charitable purposes.

Zuckerberg then ended his letter with the words of love to his beloved daughter; “Max, we love you and feel a great responsibility to leave the world a better place for you and all children. We wish you a life filled with the same love, hope and joy you give us. We can't wait to see what you bring to this world.”

(Photo source: independent.co.uk)

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