Zuckerberg giving away 99% of Facebook shares (and he’s a dad!)
It’s been a big day for Facebook founder Mark Zuckerberg. He has become a dad for the first time and also publicly announced that he will be parting with 99% of his Facebook shares that will go towards charitable causes.
Announced – naturally – via a Facebook post on his timeline, Zuckerberg penned a letter directed at his new daughter, Max. In the letter he describes many of the challenges facing the world today, including education and health, and outlines a mission statement on how to improve the world we live in.
Towards the end of the letter, Zuckerberg announces the Chan Zuckerberg Initiative designed to “join people across the world to advance human potential and promote equality for all children in the next generation” as well as the announcement that he will be giving away 99% of his Facebook shares – worth around $45 billion – over the course of his lifetime to charitable causes.
That makes it one of the largest charitable pledges ever.
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Don’t think Zuckerberg will be leaving Facebook any time soon though. He is still the CEO and will retain control over the majority of the voting rights, and will limit stock donations over the next 3 years to no more than $1 billion a year. But you know what they say, a billion here, a billion there. Soon it begins to really add up!
His Facebook post, which was penned in Facebook Notes, was soon widely shared on Facebook and soon attracted likes and comments from many celebs including Melinda Gates and Arnold Schwarzneggar.
One important question that remains – will Mark be bothering all his friends by incessantly posting hundreds of photos of little Max on his Facebook account? Only time will tell!
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