Facebook CEO pledges to give away 99% of shares to charity?
Proceeds of the holdings by the couple, Mark Zuckerberg and Priscilla Chan, of the public listed US social network currently worth USD45 billion and will be managed by a new organization known as the Chan Zuckerberg Initiative.
On his Facebook page, Zuckerberg posted “A letter to our daughter,” who was born last week.
The couple promised that they would give away their money “during our lives” through wealth charitable donations, private investment and promotion of government-policy reform.
The new organization, formed as a limited liability company to be controlled by the couple, the 31-year-old Silicon Valley entrepreneur wrote that “our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities.”
Meanwhile, Facebook said in a securities filing Zuckerberg has planned to give away “no more than USD 1 billion of Facebook stock each year for the next three years.” (PNA/Xinhua)