Facebook founder Mark Zuckerberg and his wife Priscilla Chan have welcomed the new addition to their family into the world – their baby daughter, “Max”.
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Zuckerberg’s wife, Priscilla Chan, gave birth last week to a baby girl.
Zuckerberg helped launch what would later be known as Facebook during his time at Harvard University in 2004. The donation will be made to the Chan Zuckerberg Initiative, an organization formed as a limited liability company which will be controlled by Mark and his wife. To this end they are committing 99% of their shares, which us now valued at about $45 billion, over the course of their lives.
– Buffet pledged to donate a total of $43.6 billion in 2006 to the Bill & Melinda Gates Foundation and three other foundations.
Zuckerberg said he still plans to remain CEO of Facebook for “many, many years to come”, and Facebook said Zuckerberg is expected to be the controlling stockholder of the company for the foreseeable future.
“We must back the strongest and most independent leaders in each field”, the page also stated. Zuckerberg will still retain majority voting rights in Facebook. He wrote, “Our hopes for your generation focus on two ideas: advancing human potential and promoting equality”. It added “many institutions invest money in these challenges, but most progress comes from productivity gains through innovation”. He and Chan, a 30-year-old pediatrician, have previously donated $100 million to public schools in Newark, New Jersey, and pledged $120 million to schools in poor communities of the San Francisco Bay Area.
That’s reportedly 99 percent of their Facebook stock.
The massive donation would still leave Zuckerberg – who is now #7 on Forbes’ list of richest Americans – with hundreds of millions of dollars in personal wealth.
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Continuing, the couple said they wanted to promote equality and explained how they believe in medical advances and a vision of a world without disease.
