News
News Categories

Zuckerberg to donate 99 percent of Facebook shares to charity

By Bryan Chan - on 2 Dec 2015, 11:23am

Zuckerberg to donate 99 percent of Facebook shares to charity

Mark Zuckerberg and wife Dr. Priscilla Chan, with daughter Max Zuckerberg. <br> Image Source: Getty Images

If you haven't yet heard, Mark Zuckerberg, the man behind Facebook, is now a father. His wife, Priscilla Chan, and him welcomed baby girl Max last week. To welcome her into this world, Zuckerberg announced that he will be giving 99 percent of Facebook's shares (worth more than US$45 billion) to charity. The shares will be donated in stages, throughout the lives of Zuckerberg and his family.

To facilitate the donations, they will be forming a new organization that's called the 'Chan Zuckerberg Initiative'. “Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities”, said Zuckerberg and his wife.

This isn't the first time Zuckerberg has involved himself in philanthropic activities. In 2009, he joined Bill Gates and Warren Buffet to pledge at least half his wealth to charity efforts. Zuckerberg and his wife has also donated more than US$ 44.3 billion worth of assets to the Bill & Melinda Gates Foundation.

Source: The New York Times, CNET