Mark Zuckerberg is officially a dad. He announced the birth of his daughter, Maxima, today in a note on Facebook, and also announced that he and his wife Priscilla Chan will give away 99 percent of their Facebook shares over their lifetime to provide “a world better than ours today.”
The shares, which are currently worth about $45 billion, will be used to build up the recently launched Chan Zuckerberg Initiative. Zuckerberg and Chan said in the note, addressed to their daughter, that they hope her generation focuses on advancing human potential and promoting equality.
A few weeks before Max’s birth, Priscilla and Mark took a morning to reflect and record their hopes for their daughter and all children of her generation.
Posted by Chan Zuckerberg Initiative on Tuesday, December 1, 2015
In the letter, Zuckerberg and Chan tout personalized education, access to the internet and better healthcare as steps toward a better world for their daughter.
“While headlines often focus on what’s wrong, in many ways the world is getting better,” the letter reads. “Health is improving. Poverty is shrinking. Knowledge is growing. People are connecting. Technological progress in every field means your life should be dramatically better than ours today.
“We will do our part to make this happen, not only because we love you, but also because we have a moral responsibility to all children in the next generation.”
While many liked, commented and shared the news on Facebook, the social network also filed an 8-K with the SEC detailing how Zuckerberg intends to give nearly all of his Facebook shares.
On the night you were born
All the Facebook securities lawyers
Filed an Other Events item
With the SEC https://t.co/J8Gs6jsLDx
— Michael Roston (@michaelroston) December 1, 2015
According to the filing, he will “sell or gift no more than $1 billion of Facebook stock each year for the next three years.” He will also retain the majority voting position. It appears as if the shares will mostly be heading to the newly created Chan Zuckerberg Initiative, which will likely see increasing scrutiny as it gains momentum.
Zuckerberg’s past philanthropic efforts haven’t been universally praised. Facebook’s Internet.org has been blasted for providing a tightly controlled internet experience for developing nations. His $100 million donation to Newark schools was poorly used and resulted in little change.
The letter is already drawing ire on Twitter, where some are questioning the Chan Zuckerberg Initiative’s causes.
However, Zuckerberg recently teamed up with Bill Gates and other tech giants to invest in zero-carbon energy tech, a move that has so-far received high praise.
Besides the photo shared in the note, Zuckerberg has yet to post any photos of baby Max to his public page. Maybe someone needs to teach him how parents use Facebook …