Why Facebook boss Zuckerberg is giving away 99% of his shares
They say there’s no greater joy that that of parenthood and that being a parent changes your outlook on things.
That saying has held true in the case of Facebook CEO Mark Zuckerberg as he has just announced that he will give away 99% of his Facebook stock to charity.
In an open letter to his newborn daughter Max, Zuckerberg announced that the addition to his family has heralded a paradigm shift for him and his wife Dr. Priscilla Chan.
“As you begin the next generation of the Chan Zuckerberg family, we also begin the Chan Zuckerberg Initiative to join people across the world to advance human potential and promote equality for all children in the next generation,” posted the 31-year-old.
While many people have praised the tech CEO for his generosity, others have question why he would make such an enormous donation.
In the lengthy post he said: “We believe all lives have equal value, and that includes the many more people who will live in future generations than live today. Our society has an obligation to invest now to improve the lives of all those coming into this world, not just those already here.”
With that, Zuckerberg announced that he would make his “small” contribution, summing up to Ksh4. 6 trillion, to advance the mission of equality.
“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,” said Zuckerberg.
So what will the money he has donated go to?
“Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities,” said the Harvard University dropout.
Ending the lengthy letter on a sentimental note, Zuckerberg wished his daughter a life filled with hope and joy.
“Max, we love you and feel a great responsibility to leave the world a better place for you and all children. We wish you a life filled with the same love, hope and joy you give us. We can’t wait to see what you bring to this world,” read letter.
Mark Zuckerberg has been married to his wife Pricilla (30) for 3 and a half years, and the two met in 2003 when they were both in college.
In an intimate Facebook post that rocketed across global headlines earlier this year, Zuckerberg announced that he and his wife had tried for years to have a child. His wife had suffered three miscarriages in their attempt to start a family.
In a world where people are increasingly criticised for being shallow and pretentious on social media, Zuckerberg, who is a firm believer in digital connection, opted to lead by example in going bare on the networking platform.
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