Mark Zuckerberg Is Donating 99 Percent of His Facebook Shares

Mark Zuckerberg is giving away 99 percent of his Facebook shares.

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Complex Original

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Facebook CEO Mark Zuckerberg took a step towards the future on Tuesday when he announced the birth of his daughter Max with wife Priscilla Chan. To announce her birth the couple wrote a letter to Max on Facebook about the better future world they want her to grow up in. In order to make that world a reality the couple announced they’d created the Chan Zuckerberg Initiative and that they’d be donating 99 percent of their Facebook shares, valued at approximately $45 million. The news comes on Giving Tuesday, a “global day of giving.” 

Zuckerberg described this future world writing, "It's a world where our generation can advance human potential and promote equality—by curing disease, personalizing learning, harnessing clean energy, connecting people, building strong communities, reducing poverty, providing equal rights and spreading understanding across nations." In the letter the new parents explain how the Chan Zuckerberg Initiative, which aims to "to join people across the world to advance human potential…" is focused on "advancing human potential" and "promoting equality." "We are committed to doing our small part to help create this world for all children," the letter reads. "We will give 99% of our Facebook shares—currently about $45 billion—during our lives to join many others in improving this world for the next generation."

The philanthropic move comes as no surprise considering Zuckerberg, as Business Insider pointed out, signed the "Giving Pledge" in 2010 which means a billionaire agrees to give away more than half of their wealth to charity.

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