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Facebook's Zuckerberg will give away 99% of shares to good causes

Wednesday, December 2nd 2015 - 09:52 UTC
Full article 16 comments
The donation will be to the Chan Zuckerberg Initiative. Zuckerberg said the donation currently amounts to $45bn. The donation will be to the Chan Zuckerberg Initiative. Zuckerberg said the donation currently amounts to $45bn.
Zuckerberg said the aim of the Chan Zuckerberg Initiative is “to advance human potential and promote equality for all children in the next generation”. Zuckerberg said the aim of the Chan Zuckerberg Initiative is “to advance human potential and promote equality for all children in the next generation”.

Facebook's Mark Zuckerberg and his wife Priscilla Chan say they will give away 99% of their shares in the company to good causes as they announce the birth of their daughter Max. Zuckerberg made the announcement in a letter to Max on his Facebook page.

 He said they are donating their fortune to the Chan Zuckerberg Initiative because they want to make the world a better place for Max to grow up in. Zuckerberg said the donation currently amounts to $45bn.

Max was born last week, but the couple only made the news of her birth public on Tuesday. In his letter Zuckerberg said the aim of the Chan Zuckerberg Initiative is “to advance human potential and promote equality for all children in the next generation”.

Its initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities.

“Your mother and I don't yet have the words to describe the hope you give us for the future,” Mr Zuckerberg said at the start of his letter to Max.

“You've already given us a reason to reflect on the world we hope you live in,” it added.

The letter highlighted the important role of technology in achieving the couple's goals of advancing human potential and equality.

“Many of the greatest opportunities for your generation will come from giving everyone access to the internet,” Zuckerberg wrote to his daughter.

He said more details about the donation will be released once he and Ms Chan return from paternity and maternity leave.

Zuckerberg said he will remain CEO of Facebook for “many, many years to come,” and Facebook said he is expected to be the controlling stockholder of the company for the “foreseeable future”.

Categories: Politics, International.

Top Comments

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  • The Voice

    And… these are an example of evil capitalists according to Brarsehole and similar mentally challenged loonies. And they stand alongside Lord Nuffield, Nobel, Bill Gates and the Sage of Omaha. All people who have built massive wealth through their personal efforts and use it to advance equality and help the underprivelidged. And shock horror they all come from the evil Us and Europe!
    And the losers in SA dare to criticise!?

    Dec 02nd, 2015 - 11:40 am 0
  • The Major

    So in other words he is not actually giving it away but putting it in his Chan Zuckerberg Initiative which will have tax exemptions which will then put his money in other charities that have tax exemptions. Sounds just one big swindle to me.

    Dec 02nd, 2015 - 12:55 pm 0
  • The Voice

    Yea, protect it from the taxmen, keep the money out of governments hands, governments only waste your money, look at CFK? If she got her mitts on it where would it go, into corrupt politicians pockets! its the same all over the third world. Just ask Brarsehole he will confirm it. Why should the taxman get any of it, please explain?

    Dec 02nd, 2015 - 02:21 pm 0
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