Mark and Priscilla Zuckerberg have pledged 99% of their Facebook Inc. shares to a new philanthropy project. This news was posted on the official Facebook page of Mark in a lengthy letter to their new born daughter Maxima entitled, A letter to a daughter. Mark and his wife Chan join the ranks of other super rich individuals like Warren Buffet and Mellisa and Bill Gates who have given their fortune to philanthropy work.
Mark owns around 54% of shares in Facebook Inc. translating to around $45 billion. Immediately this page had attracted over 600,000 likes some from prominent public figures like Shakira, Melinda Gates wife to Bill Gates the Microsoft founder among others. Mark and his wife will manage the new project, Chan Zuckerberg Initiative, that will focus on curing diseases, improved internet connectivity especially in developing countries, community based development and tailor made learning that is informed by the belief that technology will help student learn at their own pace. They believe that this donation will go a long way in advancing human potential and equality. Mark and Priscilla plan to give this huge donation of the period of their lifetimes.
Philanthropic donations go a long way to better the lives of people and whole communities especially people in the developing countries who desperately need this kind of help that allows them to access quality and subsidized health care, food and water. This donation will definitely go a long way in addressing some of this problems.
Most of the donations of this size are given by people who are in the twilight years of their lives. Mark and Priscilla are obviously the youngest couple to have ever given a donation of this size. This is a call to other young people who are thinking of ways of using their wealth. They have so far given $1.6 billion to philanthropy so far with donations to schools, projects that provide better wireless internet access and to the hospital where Chan a pediatrician works in, San Francisco General Hospital.