Promise fulfilled, Zuckerberg and Chan (wife) did with their new-born daughter Max

Facebook CEO Mark Zuckerberg and his wife, Dr. Priscilla Chan, are moving forward with their promise to give away most of their wealth to fund philanthropic causes. Finally, they reviled the figure they planned to donate to philanthropic efforts.

In December 2015, Zuckerberg and Chan said they planned to donate majority of their Facebook shares to philanthropic efforts throughout their lifetime. The announcement was part of a letter to their new-born daughter Max, and the couple created a limited liability company called the Chan Zuckerberg Initiative. At the time, the gift was worth about $45 billion.

In June, the Chan Zuckerberg Initiative made its first investment in Andela, a New York start up that trains software developers in Africa. Andela raised $24 million in Series B funding, a round that was led by the initiative.

The couple sold about 768,000 shares of the company’s stock, worth about $95 million, as part of their efforts to “advance human potential and promote equality,” according to a filing to the U.S. Securities and Exchange Commission released 19th August Friday.

Chan, who also started a private school in East Palo Alto that links healthcare and education, spoke to this newspaper about how her personal story has shaped the couple’s philanthropic goals.

The couple plans to sell or gift no more than $1 billion of Facebook stock each year through 2018, according to the regulatory filing.

#Human development #Technology 2016 #Zuckerberg


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