If you were waiting for ‘beyond-belief’ news that took the world of internet by storm, your wait seems to be over. The founder of Facebook Mark Zuckerberg has amazed everyone on the arrival of his new daughter in the world. On this memorable occasion, mark has decided to reciprocate the blessings of god by donating his money to charity.
Yes, you heard it right, Mark and his wife would give 99 percent of their Facebook share holdings, worth $45 billion to charitable purpose. This pledge was confirmed in the letter the couple wrote to their new born daughter Max.
Like all of his ventures, this also comes with meaning and motive. Mr. Zuckerberg and his wife Dr. Priscilla Chan’s charitable plan include inventing a new invention named Chan Zuckerberg initiative. They wrote “Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities,”
With such scale of donation, they are merely entering uncharted waters. While the couple has not disclosed the exact method of money to be spent for charity, we all know that they have something grand in their pockets.
Well, this is not the first time Zuckerberg duo has donated to the charity. In 2010, Mark and Dr. Chan gave a donation worth $100 million for the improvement of public schools in Newark.
Mr. Zuckerberg’s plans of charity are the latest signs of a growing interest in philanthropy among Silicon Valley’s young billionaires, who appear eager to spread their wealth while they are still young. Mark is 31, while Dr. Chan is 30.
Zuckerberg family is planning to go beyond just making philanthropic grants. They are planning to invest in companies, which nonprofits are restricted from doing due to tax laws. In another letter to their daughter, they addressed saying “We must build technology to make change. Many institutions invest money in these challenges, but most progress comes from productivity gains through innovation,”. The letter further states “We must participate in policy and advocacy to shape debates. Many institutions are unwilling to do this, but progress must be supported by movements to be sustainable.”
The following week, Mr. Zuckerberg also became one of the billionaires who signed on to the breakthrough energy coalition–a group organized by the Microsoft co-founder Bill Gates to contribute towards a multibillion-dollar clean energy fund.
Mark has referred to Mr. Gates as one of his childhood heroes. He has admired his philanthropic endeavors.
Addressing media, Mr. Gates and his wife Melinda congratulated Mr. Zuckeberg and Dr. Chan. He said that “The example you’re setting today is an inspiration to us and the world. We can be confident of this: Max and every child born today will grow up in a world that is better than the one we know now. As you say, ‘Seeds planted now will grow.’ Your work will bear fruit for many decades to come.”
Zuckerberg family has recently made visible investments in several kindergarten-through-high-school-education projects. And the list of his contribution seems like unending. The couple also gave to health care causes, including $75 million worth charity as a gift to San Francisco General Hospital that was later renamed in their honor.
As an added bonus, if Facebook shares to continue to appreciate, the value of the gift cohld reach upto even more than $45 billion.
The former mayor of New York and a billionaire Michael R. Bloomberg appraised Mr. Zuckerberg’s announcement. He said that Mark shared the Facebook executive’s interest in education and innovation.
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