In a Facebook post to newborn child Max, the Facebook CEO says he will administer the initiative himself using 99% of shares in company’s stock
The Zuckerbergs announced two births on Tuesday: a baby girl, and to one of the world’s biggest charities.
That sterling spoon you might have been considering for Mark Zuckerberg’s new baby may no longer be the most exciting gift to the Facebook billionaire’s daughter: after revealing his wife, Priscilla Chan, had given birth to their first child, Max, Zuckerberg announced the creation of a charity organization called the Chan Zuckerberg Initiative.
The couple have pledged to give away 99% of their Facebook shares in their lifetime, currently worth about $45bn.
The charity, which has “the mission of advancing human potential and promoting equality”, will be administered by the CEO himself and is already on track to be worth a potential $3bn by 2018.
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