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Facebook / Mark Zuckerberg

Zuckerberg Will Give Away 99 Percent of Facebook Shares

Mark Zuckerberg and Priscilla Chan have promised to donate 99 percent of their Facebook shares to charity following the birth of their daughter.

By Matt Picht | December 1, 2015

"We're expecting our little girl any day now, and we want her to have the benefits of an entire generation that is able to take advantage of all that we're able to create," Priscilla Chan said.

Well, that day has come. Mark Zuckerberg and his wife Priscilla Chan welcomed their newborn girl, Max, into the world with a promise to give away 99 percent of their Facebook shares — worth about $45 billion — to charity during their lifetimes.

The family made the announcement in a lengthy open letter to Max, discussing how technology and innovation will change the world for the better. Zuckerberg and Chan wrote: "Max, we love you and feel a great responsibility to leave the world a better place for you and all children. We wish you a life filled with the same love, hope and joy you give us."

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The donation will be funneled through the family's charitable organization, the Chan Zuckerberg Initiative, with the stated goal of building a better future for Max's generation. The initial money will be focused on education, curing diseases and building communities.

The couple says they'll share more details about when and how they'll donate their shares in the coming months.

This video includes images from Getty Images.

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