Facebook CEO Zuckerberg Donates $95 Million Shares To Charity

The very young and pledged personality, CEO of Facebook, a biggest social media platform has flagged the first signal to satisfy his vow that he and his wife made a year ago, Mark Zuckerberg has sold $95 million (generally Rs. 638 crores) of the social networking goliath's shares.

As indicated by a US administrative recording, the Chan Zuckerberg Foundation and CZI Holdings LLC sold Facebook shares worth $95 million before taxes, Forbes wrote about Saturday.

Declaring the "Chan Zuckerberg Initiative" as they welcomed their first girl Maxima Chan Zuckerberg, the couple said they have created a new foundation that would initially focus on "personalized learning, curing disease, connecting people and building strong communities".

The deals likely netted more than $85 million after capital additions taxes, the report included.

"As you begin the next generation of the Chan Zuckerberg family, we also begin the Chan Zuckerberg Initiative to join people across the world to advance human potential and promote equality for all children in the next generation," they posted in a 2,200-word letter to their new-born daughter on Facebook.

The couple arrangements to give away close to $1 billion (about 6,720 crores) worth of stock every year through 2018.

Earlier in December, Zuckerberg and his wife Priscilla Chan swore to give 99 percent of their Facebook shares - about $45 billion (generally Rs. 2,99,318 crores) - to propel human potential and advance equity for children.

Declaring the "Chan Zuckerberg Initiative" as they welcomed their first girl Maxima Chan Zuckerberg, the couple said they have created a new foundation that would initially focus on "personalized learning, curing disease, connecting people and building strong communities".

Facebook currently has 1.71 billion monthly active users.

"We will give 99 percent of our Facebook shares during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others," the couple wrote.

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