Last Tuesday Mark Zuckerberg, co-founder of Facebook and the 16th richest man in America, and his wife Priscilla Chan announced they would be donating 99 percent of their Facebook shares, currently valued at $45 billion, to charity during their lifetime.
The gift was announced in the form of a letter to their newborn child announcing the formation of the Chan Zuckerberg Initiative (CZI), a Limited Liability Company (LLC) dedicated to “advancing human potential and promoting equality” by means of “philanthropic, public advocacy, and other activities for the public good.” “Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities,” the billionaires wrote.