Mark Zuckerberg Vows To Give 99% Of His Facebook Stock Worth $45 Billion To Charity
Yesterday, Facebook creator and CEO Mark Zuckerberg had two big announcements for the world. First, he announced the birth of his daughter, Max, with wife Priscilla Chan. Secondly, he announced, in order to give children like Max a better world, he would be donating 99% of his Facebook stock to charitable causes.
In the video interview, Mark Zuckerberg said, regarding the pledge:
“HAVING THIS CHILD HAS MADE US THINK ABOUT ALL OF THE THINGS THAT SHOULD BE IMPROVED IN THE WORLD FOR HER WHOLE GENERATION.THE ONLY WAY THAT WE REACH OUR FULL HUMAN POTENTIAL IS IF WE’RE ABLE TO UNLOCK THE GIFTS OF EVERY PERSON AROUND THE WORLD.”
Prior to this announcement, Zuckerberg and Chan had pledged about $1.5 billion of their wealth to charitable purposes. With this new announcement, the couple has set up a foundation known as the Chan Zuckerberg Initiative, and they will gradually transfer their stock from their personal holdings to the Initiative over time.
This news also comes following Zuckerberg’s signing the Giving Pledge, a pact among the richest men and women in the world in which they promise to give away half their wealth during their lifetime. Notable members include Bill Gates, Warren Buffet, Carl Icahn, Michael Bloomberg, and Elon Musk.
Following the sale of his Facebook shares, of which Zuckerberg plans to donate approximately $1 billion/year over the next few years, the CEO will retain his voting rights and control of the tech giant for the foreseeable future.
In the video interview, Mark Zuckerberg said, regarding the pledge:
“HAVING THIS CHILD HAS MADE US THINK ABOUT ALL OF THE THINGS THAT SHOULD BE IMPROVED IN THE WORLD FOR HER WHOLE GENERATION.THE ONLY WAY THAT WE REACH OUR FULL HUMAN POTENTIAL IS IF WE’RE ABLE TO UNLOCK THE GIFTS OF EVERY PERSON AROUND THE WORLD.”
Prior to this announcement, Zuckerberg and Chan had pledged about $1.5 billion of their wealth to charitable purposes. With this new announcement, the couple has set up a foundation known as the Chan Zuckerberg Initiative, and they will gradually transfer their stock from their personal holdings to the Initiative over time.
This news also comes following Zuckerberg’s signing the Giving Pledge, a pact among the richest men and women in the world in which they promise to give away half their wealth during their lifetime. Notable members include Bill Gates, Warren Buffet, Carl Icahn, Michael Bloomberg, and Elon Musk.
Following the sale of his Facebook shares, of which Zuckerberg plans to donate approximately $1 billion/year over the next few years, the CEO will retain his voting rights and control of the tech giant for the foreseeable future.
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