Facebook CEO Mark Zuckerberg to Give Away 99% of his Shares

Mark Zuckerberg to Give Away 99% of his Facebook Shares

He revealed the plan in an open letter to his first baby shared on the social networking site.

This Tuesday, Mark Zuckerberg shared an open letter written to his baby girl Max on his Facebook account, announcing his plan to give away 99% of his Facebook shares, worth $45 billion, during his lifetime.

“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”, the Facebook CEO wrote in the letter.

He further added that the main focus of this initiative will be on personalized learning, health, and bringing people closer.

Chan Zuckerberg Initiative is a limited liability company that will be run by Zuckerberg and his wife Priscilla, who is a teacher and an educator.

Zuckerberg, who is on a paternity leave at the moment, said that he will share more details about this initiative in the coming months.

According to company sources, these donations won’t affect his sharing rights as the CEO of the company.

This is not the first time the founder of social media giant is involved in philanthropic work. Earlier this week, Zuckerberg joined hands with Bill Gates to invest in clean energy.


Image Courtesy: belfasttelegraph.co.uk