Mark Zuckerberg Vows to Donate 99% of His Facebook Shares

Mark Zuckerberg, the co-founder and chief executive of Facebook, announced on Tuesday that he and his wife would give 99 percent of their Facebook shares “during our lives” — holdings currently worth more than $45 billion — to charitable purposes.

The pledge was made in an open letter to their newborn daughter, Max, who was born about a week ago.

Mr. Zuckerberg and his wife, Dr. Priscilla Chan, said they were forming a new organization, the Chan Zuckerberg Initiative, to manage the money, through an unusual limited liability corporate structure. They said:

“Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities,”

Mr. Zuckerberg’s charitable plans are the latest indication of a growing interest in philanthropy among Silicon Valley’s young billionaires, who unlike previous generations of business tycoons, appear eager to spread their wealth while they are still young. Mr. Zuckerberg is 31, and Dr. Chan is 30.

Mark Zuckerberg, wife and newborn daughter

What do you think of their idea? Tell us your thoughts below.

More Articles for You

List Of Top 10 K.C.PE 2020 Candidates.

Mumo Faith Kawee is the top student in the 2020 KCPE exam scoring 433 out of 500 marks. Announcing the results …

DMX’s 10 Best Songs

After suffering a heart attack triggered by a drug overdose last weekend, on Friday (April 9), Yonkers-bred MC DMX passed away at …

10 Things You Didn’t Know About Prince Philip

People are celebrating the life of Prince Philip after his death was announced this morning. The Duke of Edinburgh passed away …

President Magufuli Final Blow!

Messages of condolence from across the African region continue to pour in for the late Tanzanian President John Pombe Magufuli …

What You Need To Know About Reggae King Bunny Wailer?

Neville O’Riley Livingston, better known as Bunny Wailer, was born in Kingston, Jamaica on April 10, 1947. The vocalist, songwriter, …

Kenya Receives First Batch Of Covid Vaccines Today

Kenya has received the first consignment of the coronavirus vaccine. Speaking from the Jomo Kenyatta International Airport on Tuesday midnight …