Zuckerberg’s ongoing donations may also help manage his blood pressure in later years.
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Yet they are entering largely uncharted waters with a charity effort of such scale.
And just last month, Zuckerberg and Chan announced that they would donate $20 million to EducationSuperHighway, a San Francisco-based nonprofit that seeks to improve K-12 Internet connectivity across the United States.
“My hat’s off to Mark Zuckerberg for making a decision he’ll never regret and making a difference he’ll forever be remembered for”, pledge-signer and former New York City mayor Michael Bloomberg said in an online post. “On behalf of future generations, I thank them”.
We must build technology to make change.
“Like all parents, we want you to grow up in a world better than ours today”, Zuckerberg and Chan wrote in the letter to Max.
How Zuckerberg will participate and shape debates is unknown for now. Many institutions are unwilling to do this, but progress must be supported by movements to be sustainable.
Chan and Zuckerberg have thus far dedicated $ 1.6 billion to their philanthropy.
The move is not surprising given that Zuckerberg had signed the Giving Pledge (along with many other tech billionaires like Bill Gates) to give away the majority of his wealth five years ago. Zuckerberg can clearly afford those taxes and, evidenced by today’s announcement and his history of giving, isn’t one to hoard his fortune.
“None of this would have happened without Bill Gates”, Brilliant said.
“I will continue to serve as Facebook’s CEO for many, many years to come, but these issues are too important to wait until you or we are older to begin this work”, the letter reads.
In one study, the authors found the more money people spent on other people, the lower their blood pressure was two years later, according to the article.
In the age of Bernie Sanders and an entitled generation of college students protesting in the streets for free college tuition, it is remarkable to consider the difference we often see in first-generation wealth and that of the children it raises. Can we connect the world so you have access to every idea, person and opportunity?
Zuckerberg and Chan have recently made visible investments. It will take working with the strongest leaders in education to help schools around the world adopt personalized learning.
But Zuckerberg’s first foray into education philanthropy was in itself a learning experience.
The ultimate value of the family’s charitable pledge is unknown.
“Studies show that when working parents take time to be with their newborns, outcomes are better for the children and families”, Zuckerberg said in an earlier post on his Facebook page.
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Zuckerberg, who’s the world’s eighth-richest man, owns about 4 million shares of Facebook common stock (worth about $US428 million) and about 419 million shares of its super-voting stock (worth about $US44 billion).
