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Zuckerberg and his wife are giving away 99% of their Facebook shares

Zuckerberg family

On the day Mark Zuckerberg revealed he's now father to a baby girl named Max, the Facebook CEO and his wife, Priscilla Chan, also announced they are giving away the vast majority of their shares in the social network to charitable causes.

The new parents plan to give away 99% of their Facebook shares, currently worth about $45 billion, over the course of their lives. Zuckerberg and Chan made the announcement in a letter to their daughter, posted to Facebook.

With the donation and through the Chan Zuckerberg Initiative, the family aims to help advance human potential and promote child equality. Initial areas of focus include personalized learning, curing disease, connecting people and building strong communities, the letter noted.

Of giving away of their shares, Zuckerberg and Chan wrote: "We know this is a small contribution to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others."

More details on the initiatives are due in the coming months, including addressing questions of why and how Max's mom and dad are tackling the issues they're dedicating such immense resources to.

Michelle Fitzsimmons

Michelle is a Senior Content Writer at 8x8. She was previously an editor at TechRadar, a leading consumer tech news and reviews website. Now she’s focused on helping small businesses reach their goals.