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Wednesday, 02 December 2015 00:00

Face book CEO donates 99 percent share to Charities

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Facebook Inc. co-founder and CEO Mark Zuckerberg and his wife pledged to give 99 percent of their Facebook shares to charities. Proceeds of the holdings by the couple, Mark Zuckerberg and Priscilla Chan, of the public listed US social network currently worth $45 billion and will be managed by a new organisation known as the Chan Zuckerberg Initiative.

Its almost equal to 3 lakh crores in Indian rupees. On his Facebook page, Zuckerberg posted "A letter to our daughter", who was born last week. The couple promised that they would give away their money "during our lives" through wealth charitable donations, private investment and promotion of government-policy reform.

About the new organization, formed as a limited liability company to be controlled by the couple, the 31 -year-old Silicon Valley entrepreneur wrote that "our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities.

Read 16535 times Last modified on Thursday, 03 December 2015 10:48