Zuckerberg donates 99% of his shares

Facebook founder and majority shareholder, Mark Zuckerberg has pledged to giveaway bulk of his Facebook shares worth $45 bn to enter into the kingdom of philanthropy. Zuckerberg’s has posted his commitment letter at givingpledge.org, the roll of honour of corporate philanthropists that was started by Warren Buffet and Bill Gates.

Giving Pledge is a movement and campaign that encourages the wealthiest people in the world to giveaway their wealth for philanthropic purposes. The movement was started by former richest man in the world Warren Buffet in 2010. Buffet, known as the Sage of Omaha was actively supported by Microsoft’s Bill Gates. According to the Giving pledge website, 140 billionaires have signed to contribute at least 50% of their wealth for philanthropy.

In their pledge letter, Zuckerberg and wife Priscilla Chan wrote- “Advancing human potential and promoting equality drives our work.” The couple has extended their wealth during the occasion of the birth of their girl child named Max. “We salute the Giving Pledge movement, and proud to be part of its declaration that those who have been fortunate should give back at least half of their wealth during their life time.”

Zuckerberg has pledged to give 99% of his share in Facebook to the Giving Pledge movement.  He launched the Chan Zuckerberg initiative, which is a limited liability; controlled by the couple for promoting human potential and equality.

Aged 31, Zuckerberg is one of the youngest philanthropists pledged at Giving Pledge. Earlier he has engaged in several such initiatives for encouraging education, health care and environment. With the entry of Zuckerberg, the culture of philanthropy among the wealthiest in the US is spreading as a movement.