According to a USA regulatory filing, The Chan Zuckerberg Foundation and CZI Holdings LLC sold Facebook shares worth $95 million before taxes, Forbes reported on Saturday.
Advertisement
This time, Chan Zuckerberg Initiative made almost $95 million by selling 767,905 shares, according to Security and Exchange Commission filling on August 19, 2016. “He will make long-term investments in areas like health and education, while working to decrease inequality and building technology to” target=”_blank” data-tracker-action=”click” data-tracker-category=”nav” data-tracker-label=”inline_link.01″ *pledged to give away 99 percent of their wealth during their lifetime.
At the time, the couple pledged to give away 99% of their Facebook shares over their lifetime to philanthropy through the organization.
At the time, the December pledge was worth about $US45 billion. The stake was sold by Chan Zuckerberg Initiative Holdings and the Chan Zuckerberg Foundation. Zuckerberg added that he would offer support to initiatives focused on personalized learning, improving communities, connecting people and for finding cure for some diseases.
The couple plans to sell or gift no more than $1 billion of Facebook stock each year through 2018, according to the regulatory filing. He also said that any money earned by the Initiative would be put back into charitable efforts.
Advertisement
Facebook declined to provide official comment.
