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Zuckerberg FB CEO : Gives 99 percent of shares to charity

Facebook's Zuckerberg to give 99 percent of shares to charity

Zuckerberg FB CEO : Gives 99 percent of shares to charity
FB CEO Zuckerberg with his wife Chan

SAN FRANCISCO/Hyderabad (Reuters) - Facebook Inc (FB.O) Chief Executive Officer Mark Zuckerberg and his wife said on Tuesday they will give away 99 percent of their Facebook shares, currently worth about $45 billion, to a new charity in a letter addressed to their daughter, Max, who was born last week.

The arrangement reflects a move by other prominent extremely rich people like Warren Buffett and Bill and Melinda Gates, who have swore and set up establishments to give away their fortunes to philanthropy.

On his Facebook page, Zuckerberg posted a photograph of himself, his wife, Priscilla Chan and their new little girl, Max, alongside a post entitled 'A letter to our girl'.

In the 2,220-word letter, Zuckerberg and Chan touched on issues including wellbeing, instruction, Internet get to and learning before declaring the Chan Zuckerberg Initiative, which expects to "propel human potential and advance uniformity."

Zuckerberg, 31, and Chan said they plan to give away 99 percent of their Facebook offers over their lifetimes to propel the activity, which was framed as a constrained risk organization controlled by the two. It will start by concentrating on customized learning, curing ailment, Internet network and group building.

Max Chan Zuckerberg was conceived early a week ago — however Facebook did not determine her introduction to the world date — and measured 7 lbs 8 ounces during childbirth. A month ago, Zuckerberg declared he would take two months of paternity leave after the conception of his little girl.

Chan and Zuckerberg have so far submitted $1.6 billion to their generosity. They have given a few gifts this year, including to state funded schools, activities to bring better remote Internet access and to San Francisco General Hospital, where Chan functions as a pediatrician.

At the point when Zuckerberg was 26, he marked the Giving Pledge, under which the world's wealthiest people and families resolve to give more than half of their riches to altruism or beneficent reasons over their lifetime or in their will.

Zuckerberg said regardless he wants to remain CEO of Facebook for "some, numerous years to come," and Facebook said Zuckerberg is relied upon to be the controlling stockholder of the organization for a long time to come. He has resolved to surrender away to $1 billion of Facebook stock every year for the following three years, the organization said.

Zuckerberg and Chan said they will share more subtle elements when they come back from their maternity and paternity clears

Source : Reuters
hari krishna Bingi

hari krishna Bingi

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