Last year, Mark Zuckerberg and his wife Priscilla made a pledge of giving away most of their wealth to charity. Staying true to their pledge, the couple have sold $95 million of Facebook shares.
As per a US regulatory filing, the Chan-Zuckerberg Foundation and CZI Holdings LLC sold shares worth $95 million before taxes, reported Forbes. The couple plans to give away no more than $1 billion worth of stock each year through 2018.
The couple declared the “Chan Zuckerberg Initiative”, after welcoming their first girl Maxima Chan Zuckerberg. The initiative is focus on personalised learning, curing disease, connecting people and building strong communities. They pledged to donate 99 % of their Facebook shares (Approximately $45 billion) to these causes.
“As you begin the next generation of the Chan Zuckerberg family, we also begin the Chan Zuckerberg Initiative to join people across the world to advance human potential and promote equality for all children in the next generation,” they posted in a letter to their new-born daughter on Facebook.
“We will give 99 percent of our Facebook shares during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others,” the couple wrote.
