Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Wednesday, December 2, 2015

Mark Zuckerberg And Priscilla Chan Will Donate Vast Majority Of Their Facebook Shares To Charity

Mark zuckerbergFacebook head Mark Zuckerberg and his wife Priscilla Chan have recently announced that they will donate 99% of their Facebook shares, currently worth around $45 billion, to charity. The announcement was made in a letter that the couple addressed to their new daughter Max who was born last week. There has been a growing trend of high profile billionaires like Warren Buffett and Bill and Melinda Gates who are pledging to give away most of their fortunes. The couple will set up the Chan Zuckerberg initiative which stated that its objective is to "advance human potential and promote equality." Zuckerberg has also announced that he still intends to remain as CEO of Facebook for "many, many years to come," and he plans to maintain his position as the controlling shareholder of the company for the foreseeable future.

See Facebook's Zuckerberg to give 99 percent of shares to charity, Reuters, December 2, 2015.

Special thanks to Adam Hirsch for bringing this article to my attention.

https://lawprofessors.typepad.com/trusts_estates_prof/2015/12/mark-zuckerberg-and-priscilla-chan-will-donate-vast-majority-of-their-facebook-shares-to-charity.html

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