The Facebook CEO pledged to make a donation following the birth of his daughter Max
Facebook CEO Mark Zuckerberg is taking steps toward fulfilling his promise to donate 99 percent of his Facebook stock to charity.
Zuckerberg and his wife, Priscilla made their first cash injection into their for-profit charitable group, the Chan Zuckerberg Initiative (CZI). On Wednesday and Thursday they sold 767,905 shares they had transferred to the organization, which was worth about $95 million, according to CNN Money.
Zuckerberg and Chan announced the launch of CZI in December in a letter to their newborn daughter, Max. The couple pledged to give away 99 percent of their Facebook shares ― or around $45 billion ― to the cause.
“For your generation to live in a better world, there is so much more our generation can do,” Zuckerberg wrote in the letter. “Today your mother and I are committing to spend our lives doing our small part to help solve these challenges.”