Mark Zuckerberg’s baby Max arrived like a ray of sunshine for the world. With the announcement of her birth, her parents, the Facebook CEO and his wife Priscilla Chan, have pledged to donate 99% of their shares in the company to charitable causes. The sum of the donation, according to estimates, may be up to $45 billion.
The announcement was made in a letter to Max on Zuckerberg’s Facebook page. The pledge, named as the Chan Zuckerberg Initiative, is part of an attempt by Silicon Valley’s most powerful couple to make the world a better place for their daughter to live in.
The money will be used to “advance human potential and promote equality for all children”, by focusing on personalized learning, disease prevention and cure, connecting people and building strong communities.
The Zuckerbergs are both on parental leave right now, so details about the donation will be released early next year.
Meanwhile, billionaire investor and philanthropist Warren Buffet praised the initiative, saying that when it comes to giving away your fortune, “30 is the new 70”. The Zuckerbergs have earned a huge amount of money very early in life, and the sooner they start sharing their bounty, the better it is for the underprivileged in the world.