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Zuckerberg And Wife Priscilla Give Away 99% Of Their Shares In Facebook

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Facebook’s Mark Zuckerberg and his wife Priscilla Chan are to give 99% of their shares in the company to good causes following the announcement of the birth of their daughter Maxima.

The Chan Zuckerberg Initiative will promote health, education, health care, communication, community, equality and human advancement for all children who live in the world, including the unborn ones yet to arrive.

Following a number of miscarriages and health issues the Chan Zuckerberg alliance has finally managed to create a new baby called Maxima. In her honour the Facebook CEO and his wife, who are multi billionaires,  have decided to give away a fortune to charitable causes for children both alive and unborn. They wish to create a better world for all children and achieve it while still young and starting with their own new born daughter.

The BBC reports:

Mr Zuckerberg made the announcement in a letter to Max on his Facebook page.

He said they were donating their fortune to the Chan Zuckerberg Initiative to make the world a better place for Max to grow up in.

The donation amounts to $45bn (£30bn) at Facebook’s current value.facebook

However the shares will not be donated to charity immediately, but over the course of the couple’s lives.

Were Mr Zuckerberg to give away 99% of his shares immediately, he would still possess hundreds of millions of dollars. Ms Chan’s worth has not been documented.

Max was born last week, although her birth was only made public on Tuesday.

In his letter Mr 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 personalised 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.facebook

Edmondo Burr

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BA Economics/Statistics CEO Assistant Editor