Is Mark Zuckerberg Giving Away 99 Percent of His Fortune?

Zuckerberg fortune

Mark Zuckerberg is giving away most of his fortune, but not right away. (Facebook)

Rumors are running wild that Mark Zuckerberg may be giving away 99 percent of his fortune. But is that true?

Yes, but not immediately.

In a letter on Facebook that Zuckerberg posted announcing the birth of his daughter, Max, he said that he plans to give away 99 percent of his Facebook shares over the course of his life. His shares are currently worth about $45 billion. He wants to help make the world a better place for his daughter, so he will be giving the shares to philanthropic efforts.

He started the Chan Zuckerberg Initiative to work with other people across the world on advancing human potential and promoting equality for all children. The charity will start by focusing on personalized learning, curing disease, and connecting people, he wrote. The Facebook shares will be given away to advance the Chan Zuckerberg initiative.

He wrote:

We can do this work only because we have a strong global community behind us. Building Facebook has created resources to improve the world for the next generation. Every member of the Facebook community is playing a part in this work.”

You can read his full letter here. He and Chan also recently released a video on their charity’s Facebook page sharing their hopes and dreams for Max and all children:

For more information about Zuckerberg’s net worth, please see this story:

1 Comment

1 Comment

Erik

Why would someone donate money towards the cure for diseases, when the government already has a cure for it