Mark Zuckerberg announced, upon birth of his daughter, that he intends to give away 99 percent of his shares of Facebook stock, totaling a mere $45billion (£30bn).The joyful new dad boasted on his Facebook page, “Priscilla and I are so happy to welcome our daughter Max into this world!”He continued, “We are committed to doing our small part to help create this world for all children.”
Apparently, changing the current generation’s methods of socializing wasn’t enough for this social media mogul; he wants to go bigger and better. This means the proud papa is handing over approximately $45billion (£30bn) to improve future generations. Displaying pure inspiration, Zuckerberg and his wife, Priscilla, wrote a letter to the newborn baby girl. The letter is an honorable display of what every parent wishes they could provide for their own children.
“Like all parents, we want you to grow up in a world better than ours today,” read the letter. Zuckerberg also stated that his daughter’s birth has already, “given us a reason to reflect on the world we hope you live in.”
“We will do our part to make this happen, not only because we love you, but also because we have a moral responsibility to all children in the next generation.”The letter also went on to refer to the Chan Zuckerberg Initiative: “We will give 99% of our Facebook shares – currently about $45 billion – during our lives to advance this mission.”
The Chan Zuckerberg Initiative will conduct the financial disbursements and management of the fortune. The initiative is not a non-profit organization, however. It is actually a LLC, or business, which has stirred up a few skeptics. By being a LLC, this allows Zuckerberg to still have control of how much of his money is given away. A non-profit would be required to donate five percent annually. In addition to financial contributions, the initiative will also be advocates and lobbyists for “advancing human potential and promoting equality,” according to the Facebook founder.
Mark often keeps company with some pretty wealthy and powerful men. In 2010, Warren Buffett, Bill Gates, Sir Richard Branson, and Michael Bloomberg backed a campaign known as The Giving Pledge. The organization consists of the wealthiest individuals and families that have pledged to donate the majority of their wealth to philanthropy.
Zuckerberg, acquiring his fame and fortune at a young age, has always been proactive in providing charitable donations to better society and the environment. Mark and wife Priscilla have donated over $20 million to Education Superhighway, to fund high-speed internet in classrooms. He was also a sponsor to the Breakthrough Energy Coalition that contributed to a multi-billion dollar clean energy fund.
Whether it is because of the birth of his new daughter or his genuine compassion for future generations, Mark Zuckerberg has chosen to contribute the majority of his wealth to make the world a better place. At only 31 years old, this is a huge decision for someone to make. Committing to a better tomorrow is something we can all benefit from.
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