Facebook co-founder Mark Zuckerberg on Tuesday announced he is a dad -- and pledged to give away his fortune to make the world a "better place" for baby daughter Max and others. In a letter to Max posted on his Facebook page, Zuckerberg and wife Priscilla Chan said they were going to give away 99 percent of their company shares -- estimated current value $45 billion -- during their lives in an effort to make a happy and healthy world. Zuckerberg will "gift or otherwise direct" nearly all his shares of Facebook stock, or the after-tax proceeds of sales of shares, to further a mission of "advancing human potential and promoting equality" by means of activities for the public good, the California-based social network said in a filing with the US Securities and Exchange Commission.
SAN FRANCISCO/BENGALURU (Reuters) - Facebook Inc Chief Executive Officer Mark Zuckerberg and his wife said on Tuesday they will give away 99 percent of their Facebook shares, currently worth about $45 billion, to a new charity in a letter addressed to their daughter, Max, who was born last week. The plan mirrors a move by other high-profile billionaires like Warren Buffett and Bill and Melinda Gates, who have pledged and set up foundations to give away their fortunes to charity. On his Facebook page, Zuckerberg posted a photo of himself, his wife, Priscilla Chan and their new daughter, Max, along with a post entitled 'A letter to our daughter.' In the 2,220-word letter, Zuckerberg and Chan touched on issues including health, education, Internet access and learning before announcing the Chan Zuckerberg Initiative, which aims to "advance human potential and promote equality." Zuckerberg, 31, and Chan said they plan to give away 99 percent of their Facebook shares over their lifetimes to advance the initiative, which was formed as a limited liability company controlled by the two.
Hillary Clinton celebrated a civil rights milestone with black leaders Tuesday but warned that the United States was still falling woefully short of providing equality and justice for African-Americans. The former secretary of state, who leads in the race for the 2016 Democratic presidential nomination, traveled to Alabama 60 years to the day after black seamstress Rosa Parks refused to give up her bus seat to a white passenger, an event which changed the course of American history. Clinton cited the need to conduct broad criminal justice reform and to improve voting rights, where she said there was "mischief afoot" in some states where steps have been understood as efforts to make it tougher to register to vote.