Mark Zuckerberg Vows to Donate 99% of His Facebook Shares for Charity

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Mark Zuckerberg, the co-founder and chief executive of Facebook, announced on Tuesday that he and his wife would give 99 percent of their Facebook shares “during our lives” — holdings currently worth more than $45 billion — to charitable purposes.

Mark Zuckerberg Vows to Donate 99% of His Facebook Shares for Charity

The pledge was made in an open letter to their newborn daughter, Max, who was born about a week ago.

Mr. Zuckerberg and his wife, Dr. Priscilla Chan, said they were forming a new organization, the Chan Zuckerberg Initiative, to manage the money, through an unusual limited liability corporate structure. “Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities,” they wrote.

Daniel Chao and Clara Shih with their son, Blake, in San Francisco. Both parents have started and run tech companies.Work-Life Balance: Silicon Valley Is Growing Up, Giving Parents a BreakNOV. 25, 2015

Mark Zuckerberg, the chief executive of Facebook, and his wife, Dr. Priscilla Chan, are increasing their support for a nonprofit group called EducationSuperHighway.

Mark Zuckerberg, the chief of Facebook, at a company town hall event in September.Facebook Revenue Surges 41%, as Mobile Advertising and Users Keep Growing.

Mr. Zuckerberg’s charitable plans are the latest indication of a growing interest in philanthropy among Silicon Valley’s young billionaires, who unlike previous generations of business tycoons, appear eager to spread their wealth while they are still young. Mr. Zuckerberg is 31, and Dr. Chan is 30.

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