Facebook CEO Mark Zuckerberg to spend wealth on good causes

This content was originally posted in 7DAYS UAE website at: Facebook CEO Mark Zuckerberg to spend wealth on good causes Facebook CEO Mark Zuckerberg and his wife say they’ll devote nearly all their wealth – roughly $45 billion – to solving the world’s problems in celebration of their new baby daughter, Max. Zuckerberg’s wife, Priscilla Chan, gave birth to a 7-pound, 8-ounce daughter last week. But the couple didn’t put out the news until Tuesday, when Zuckerberg posted it on Facebook, of course. In the same post, Zuckerberg said he and Chan will, over time, commit 99 per cent of their Facebook stockholdings to such causes as fighting disease, improving education and “building strong communities”. The couple had previously pledged to give away at least half their assets during their lifetime, but hadn’t provided specifics. They are forming a new organisation, called the Chan Zuckerberg Initiative, that will pursue those goals through a combination of charitable donations, private investment and promotion of government-policy reform. “Like all parents, we want you to grow up in a world better than ours today,” the 31-year-old social media mogul and his wife wrote in a letter to their daughter, which they also posted on Facebook. news@7days.ae Read the original story at: Facebook CEO Mark Zuckerberg to spend wealth on good causes