Everyday millions of people log on to Facebook and scroll down their newsfeed to see what’s going on in their friends’ lives. Facebook is more than just an ordinary social media website, the company has branched out since it launched in 2004.It has become an IPO which gives people the chance to buys stocks from the company. Recently, Mark Zuckerberg announced that 99% of his Facebook shares valued at $45 billion will be given to charity.
The Zuckerberg family released a letter they wrote to their newborn daughter about their decision to make the generous donation. Within the next three years, they plan on donating one billion dollars in stock a year.
Rajveer Kang said, “I think it will start something for future generations to want to follow. Typically it’s noticed many follow others when it comes to what they do. Especially like people that are famous, well known, etc. Seeing the publicity Zuckerberg gets, they may want to do the same.”
Chan Zuckerberg Initiative will receive the money to distribute appropriately. The main purpose of the organization is to supply aid to community building, connecting people, curing diseases, and personalized learning.
Aside from their stock donation, the Zuckerberg family has made several alms to different programs. Through their organization Startup:Education, the Newark, New Jersey public school system was given one hundred million dollars. The Bay Area received 120 million dollars to fund educational programs. Also, they created a school that offers health care and academics to students who are deprived.
Mark Zuckerberg and Priscilla Chan has joined the pact with other business tycoons known as Giving Pledge. These billionaires have pledged to donate majority of their earning to help the underprivileged.