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Zuckerberg and His Wife Will Give Away 99% of Their Facebook Shares

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Mark Zuckerberg, the founder of Facebook, and his wife Priscilla have recently welcomed baby Max into the world. The very long post that announced their daughter’s arrival concluded with an unexpected surprise. Zuckerberg and Chan discussed in an open letter to Max and the rest of us, the wish for their child to grow in a better world than ours. Thus, two ideas were deemed important for this process: advancing human potential and promoting equality. The two have created the Chan-Zuckerberg Initiative based on the idea of laying the foundation today for a brighter tomorrow.

To advance their mission, Mark and his wife are going to donate, over the course of their lifetime, 99 percent of their Facebook shares (currently valued at around $45 billion). Even though they consider their action just a small contribution compared to all the other resources and talents that are already working on the world’s problems, they still want to do what they can. On the other side, the Huffington Post pointed out the key phrase: over their lifetime. On Tuesday Facebook filed a form with the SEC in which it was revealed that Zuckerberg does not plan to give more than $1 billion annually over each of the next three years. He also plans on maintaining a majority voting position with the social network “for the foreseeable future”.

There is no doubt that it would be really foolish to relinquish control of Facebook after having worked for so long to build it into a global force. Even so, surely another generous technology mogul will have a big smile on his face after reading this news: Bill Gates.