Mark Zuckerberg to donate 45 billion USD

On the occasion of their daughter’s birth, Mark Zuckerberg and his wife Priscilla Chan announced they will donate 99 percent of their Facebook shares, valued at 45 billion USD, to improve the world for future generations.

Mark Zuckerberg and his wife Priscilla Chan shared news of the birth of their daughter, named Max, with the public in a special letter posted on Facebook.

Letter to daughter Max

The letter is addressed to Max, but the couple also reveals their plans unrelated to her. They announce the creation of a foundation called Chan Zuckerberg Initiative, aimed at supporting various initiatives to make the world better for children’s development and to reduce social inequalities.

Goals of Chan Zuckerberg Initiative

Among the goals of the Chan Zuckerberg Initiative are combating the most dangerous diseases, advancing clean energy sources, personalizing education, and leveling the playing field for young people starting life. Zuckerberg and his wife also emphasize the growing role of the internet, which is not only a source of entertainment or modern communication, but also a last chance for people in many regions of the world.

45 billion USD for social causes

In the letter, Zuckerberg and Chan announce they will dedicate 99 percent of their Facebook shares to the new organization throughout their lives, equivalent to about 45 billion USD. Details on how these funds will be invested are not yet known, but over the next three years, the Chan Zuckerberg Initiative will receive annual grants of about 1 billion USD from the sale of Facebook shares.

Mark Zuckerberg and Priscilla Chan to donate 45 billion USD

Mark Zuckerberg and Priscilla Chan have been married since 2012. In the past, they tried to have a child, but Chan experienced three miscarriages.

Facebook in numbers

Facebook reported 4.5 billion USD in revenue and 896 million USD in net profit in the third quarter. As of the end of September, the social network had 1.55 billion monthly active users, of which 1.39 billion used the platform on mobile devices, and 727 million accessed it exclusively via mobile. Additionally, the number of daily active users surpassed 1 billion.

Summary

Mark Zuckerberg and Priscilla Chan announced in a letter to their daughter Max that they will donate 99 percent of their Facebook shares, valued at 45 billion USD, to the newly established Chan Zuckerberg Initiative. The organization will support efforts to fight dangerous diseases, develop clean energy, personalize education, and equalize life opportunities.

Over the next three years, the initiative will be funded by annual grants of approximately 1 billion USD from Facebook share sales. The couple married in 2012 and previously experienced three miscarriages, which they also disclosed publicly.