--- description: Mark Zuckerberg and his wife have pledged to give away their Facebook shares and to focus on a charity initiative title: Mark Zuckerberg Will Donate Almost All His Facebook Shares image: https://static.time.com/v3/assets/bltea6093859af6183b/blt5bf2939537381b4a/6988735e3c1639217345af7c/mark-zuckerberg-blue-background.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Companies](/tag/companies/) ## Companies Update your preferences in [Account Settings](/account/preferences/) Close # Mark Zuckerberg and Priscilla Chan Will Donate Almost All Their Facebook Shares  by [Lisa Eadicicco](/author/lisa-eadicicco/)  ## Lisa Eadicicco Update your preferences in [Account Settings](/account/preferences/) Close Updated: Dec 13, 2023 10:49 PM CUTPublished: Dec 1, 2015 9:49 PM CUT  Mark Zuckerberg speaks during the Internet.org summit in New Delhi, India on Oct. 9, 2014. Mark Zuckerberg speaks during the Internet.org summit in New Delhi, India on Oct. 9, 2014.Udit Kulshrestha—Getty Images  by [Lisa Eadicicco](/author/lisa-eadicicco/)  ## Lisa Eadicicco Update your preferences in [Account Settings](/account/preferences/) Close Updated: Dec 13, 2023 10:49 PM CUTPublished: Dec 1, 2015 9:49 PM CUT Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, plan to give away 99% of their Facebook shares for charitable purposes, Zuckerberg said Tuesday [in a Facebook post](https://www.facebook.com/notes/mark-zuckerberg/a-letter-to-our-daughter/10153375081581634 "undefined"). The news comes as the couple also announced the birth of their first child, a daughter named Max. That portion of Facebook shares is currently valued at $45 billion, according to Zuckerberg. The donations won’t happen right away: a [filing](http://www.sec.gov/Archives/edgar/data/1326801/000132680115000035/form8kdec2015.htm "undefined") with the Securities and Exchange Commission says the Facebook CEO plans to “sell or gift” no more than $1 billion worth of Facebook stock every year over the next three years. That SEC filing also indicates Zuckerberg plans to contribute the funds through the Chan Zuckerberg Initiative. He will continue to control the voting rights of any shares held by that organization. ### See How Tech CEOs Spend Their Money  Steve Jobs The Apple CEO's super yacht Venus was designed by Philippe Starck's design company Ubik. Jobs spent approximately $131 million on it but passed away in 2011 before it was completed. Ed Oudenaarden—AFP/Getty Images  Steve Ballmer In 2014, former Microsoft CEO Steve Balmer spent $2 billion to become the owner of the NBA's Los Angeles Clippers. Jeff Gross—Getty Images  Larry Ellison Outgoing Oracle CEO Larry Ellison owns 98% of the 141-square-mile Hawaiian island of Lanai, which he bought for an undisclosed price. He is turning it into a "model for sustainable enterprise," he's said, though details remain sketchy. NASA/Reuters  Larry Page and Sergey Brin Google CEO Larry Page and co-founder Sergey Brin have been attending the Burning Man Arts Festival since the company's early days. There they fund a "theme camp" and how exactly the funds are used is left up to participants' imaginations. Jim Urquhart—Reuters  Bill Gates The former Microsoft CEO is currently the richest man in the world, according to Bloomberg. Since 2000, Gates and his wife have been running the Bill and Melinda Gates Foundation. In total it has issued grants adding up to over $30 billion. Pius Utomi Ekpei—AFP/Getty Images  Elon Musk PayPal Co-Founder Elon Musk (in driver's seat) began as a Series A investor in 2004 and is now the CEO and chief product architect of Tesla Motors. The company created the first mass-produced, highway-capable electric car and is valued at over $18 billion. Robyn Beck—AFP/Getty Images  Richard Branson Founder of Virgin Group, comprised of more than 400 companies, Branson has invested heavily in spaceship tourism with the SpaceShipTwo vehicle . David Paul Morris—Bloomberg/Getty Images  Mark Zuckerberg To ensure his privacy, Facebook CEO Mark Zuckerberg bought four of his neighboring houses in 2013 for an estimated $30 million-plus in Palo Alto, California. Noah Berger—Bloomberg/Getty Images The Chan Zuckerberg Initiative is intended to “advance human potential and promote equality for all,” Zuckerberg wrote in a letter addressed to his new daughter. The initiative’s first areas of focus will be on education, curing disease, and connectivity. “We know this is a small contribution compared to all the resources and talents of those already working on these issues,” Zuckerberg wrote. “But we want to do what we can, working alongside many others.” Zuckerberg says he plans to share more details in the coming months, once both he and his wife return from their respective paternity and maternity leaves. He [said](http://time.com/4123291/mark-zuckerberg-facebook-paternity-leave/ "undefined") last month he plans on taking two months of paternity leave. The Facebook CEO’s move to donate significant amounts of his personal wealth echoes Microsoft co-founder Bill Gates’ [decision to give $28 billion to charity](http://www.theguardian.com/technology/pda/2011/jun/13/bill-gates-charity-microsoft "undefined"), promising that his children will only inherit “a minuscule portion” of his considerable holdings. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4131752/mark-zuckerberg-priscilla-chan-facebook-shares-max-daughter/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4131752/mark-zuckerberg-priscilla-chan-facebook-shares-max-daughter/"},"headline":"Mark Zuckerberg and Priscilla Chan Will Donate Almost All Their Facebook Shares","datePublished":"2015-12-01T21:49:10.000Z","dateModified":"2023-12-13T22:49:02.000Z","description":"That portion of the company is currently worth $45 billion","url":"https://time.com/4131752/mark-zuckerberg-priscilla-chan-facebook-shares-max-daughter/","keywords":["Companies","Tech","facebook"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt5bf2939537381b4a/6988735e3c1639217345af7c/mark-zuckerberg-blue-background.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Lisa Eadicicco","jobTitle":null,"url":"https://time.com/author/lisa-eadicicco/"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt5bf2939537381b4a/6988735e3c1639217345af7c/mark-zuckerberg-blue-background.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Facebook Chief Executive Officer Mark Zuckerberg Hosts Internet.org Summit","caption":"Mark Zuckerberg speaks during the Internet.org summit in New Delhi, India on Oct. 9, 2014.","creditText":"Udit Kulshrestha—Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/companies/","name":"Companies"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/4131752/mark-zuckerberg-priscilla-chan-facebook-shares-max-daughter/","name":"Mark Zuckerberg and Priscilla Chan Will Donate Almost All Their Facebook Shares"}}]}] ```