Mark Zuckerberg and his wife Dr. Priscilla Chan have committed donating 99% of their shares in Facebook to a new charity called the Chan Zuckerberg Initiative. They figure the value of the shares is close to $45 billion dollars.
They outlined their plan in an open letter they posted today for their daughter Max.
Here are a few points form their letter.
Today your mother and I are committing to spend our lives doing our small part to help solve these challenges. I will continue to serve as Facebook’s CEO for many, many years to come, but these issues are too important to wait until you or we are older to begin this work. By starting at a young age, we hope to see compounding benefits throughout our lives.
We will give 99% of our Facebook shares — currently about $45 billion — during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others.
You got to hand it to them…putting their money where their heart is.