Chief executive of facebook Mark Zuckerberg and his wife said that they will give away 99 per cent of their Facebook shares, currently worth about $45 billion.
They have decided to give this money to a new organisation that will tackle a broad range of the world’s ills.
Zuckerberg made this announcement on Facebook page where he announced, Zuckerberg and his wife Priscilla Chan, are blessed with a baby girl.
He wrote a letter to his new born baby girl Max, on facebook, where he pledged to give away his fortune to make the world a “better place” for baby daughter Maxima and others.
The couple didn’t put out the news until Zuckerberg posted it on Facebook.
In the 2,220-word letter, Zuckerberg and Chan touched on issues including health, education, Internet access and learning before announcing the Chan Zuckerberg Initiative, which aims to “advance human potential and promote equality.”
Letter reads as, “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,”
The plan mirrors a move by other high-profile billionaires like Warren Buffett and Bill and Melinda Gates, who have pledged and set up foundations to give away their fortunes to charity.