Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, announced some pretty big news on Tuesday: the birth of their daughter, Max. But that’s not it. They also revealed their plans to give away 99 percent of their Facebook shares, which adds up to about $45 billion.
The couple announced their donation in a letter written to their daughter about the world they hope she will grow up in.
“It’s a world where our generation can advance human potential and promote equality -- by curing disease, personalizing learning, harnessing clean energy, connecting people, building strong communities, reducing poverty, providing equal rights and spreading understanding across nations,” Zuckerberg posted on his Facebook page.
“We are committed to doing our small part to help create this world for all children,"they continued. "We will give 99% of our Facebook shares -- currently about $45 billion -- during our lives to join many others in improving this world for the next generation.”
To carry out this lofty mission they are creating a new organization, the Chan Zuckerberg Initiative.
You can read the full letter to their daughter here.