This week Facebook mogul Mark Zuckerberg “Facebooked” the birth of his first born, Maxima Chan Zuckerberg posting a lengthy letter on his Facebook account addressed to Max. The letter explains how he wants his daughter “to grow up in a world better than ours today,” and how he and his wife plan on assisting in changing the world.
The change begins with giving up 99 percent of his shares in Facebook, currently valued at $45 billion, to “advance human potential and promote equality for all children in the next generation.” The shares will not go to a non profit but instead a corporation, Chan Zuckerberg, LLC. In this way Zuckerberg and his wife, Priscilla Chan, are not exempt from taxes but are also not tied down by non profit restrictions and can reinvest in other ventures to generate new money for the initiative. This way the money can keep circulating to non profits and causes they see fit to support, according to Zuckerberg
Zuckerberg ends the letter to his daughter with the following:
“Max, we love you and feel a great responsibility to leave the world a better place for you and all children. We wish you a life filled with the same love, hope and joy you give us. We can’t wait to see what you bring to this world.
Mom and Dad”
Zuckerberg, being the cool dad that he is, is throwing himself into fatherhood taking two months paternity leave from his social media presidency. We salute you as a new father and giving philanthropist! #DadsRule #FatherhoodFriday