Facebook CEO Mark Zuckerberg celebrated the birth of his daughter Max by pledging to donate 99 per cent of his company’s shares – estimated at around $45 billion - to “advancing human potential and promoting equality” through a new organization called the Chan Zuckerberg Initiative.
His commitment puts him at the forefront of an elite list of philanthropists who made the promise to donate most of their fortune.
The social media tycoon posted his decision through a letter dedicated to his daughter about the world he hopes she will grow up in:
Philanthropists such Bill Gates and his wife Melinda Gates, Bono and Arianna Huffington welcomed Zuckerberg's commitment.
Zuckerberg’s is now among the 138 wealthy individuals who have signed a pledge to give away a big part of their fortune to build a better society.
“As for your decision to give back so generously, and to deepen your commitment now, the first word that comes to mind is: Wow. The example you’re setting today is an inspiration to us and the world,” Melinda Gates commented on Mark Zuckerberg's post on Facebook.
The elite list of the biggest donors now include Microsoft co-founder Bill Gates, stock market sage Warren Buffet and Oracle co-founder Larry Ellison — who are wealthier than Zuckerberg, according to Forbes magazine's latest rankings.
As from today Facebook's founder has pledged to give away all but 1 per cent of his company's stock.
Here's a look at the donations of at least $1 billion donation announced during the past decade, as tracked by the Chronicle of Philanthropy:
Warren Buffet pledged to donate a total of $43.6 billion in 2006 to the Bill & Melinda Gates Foundation as well as $3.1 billion to three other foundations in 2012.
Helen Walton, the wife of Wal-Mart Stores founder Sam Walton, donated her estimated fortune of $16.4 billion to a family foundation after her death in 2007.
Leona Helmsley, who made her fortune in hotels and other real estate, donated an estimated $5.2 billion to charitable trust after her death in 2007.
Medical entrepreneur James Sorenson donated an estimated $4.5 billion to a family foundation after his death in 2008.
Microsoft founder Bill Gates has donated $28 billion of his fortune to his and his wife Melinda’s own charity, the Bill and Melinda Gates Foundation. He has pledged to donate 95 per cent of his personal fortune in total.
Zuckerberg donated $1.5 billion to the Silicon Valley Community Foundation in 2012 and 2013.
Hotelier Barron Hilton pledged to donate $1.2 billion to the Conrad N. Hilton Foundation in 2007.
Former investment banker Peter Peterson donated $1 billion to a foundation bearing his name in 2008.
Ralph Wilson Jr. the longtime owner the National Football League's Buffalo Bills, donated $1 billion to a foundation bearing his name after his death in 2014.
