In a surprise announcement today, Mark Zuckerberg and his wife, Priscilla Chan pledged to donate 99 percent of their shares to Facebook for promotion of human evolution.
The figure represents about 45 billion dollars in Facebook's current valuation, making the announcement one of the greatest charitable promises in history.
The details of the donation are not clear yet, but the couple has already created a Facebook page for an organization called Chan Zuckerberg Initiative.
The full amount promised by the announcement will be given during the life of Zuckerberg. In the immediate future, Chan Zuckerberg Initiative will finance a series of three annual donations from the sale of CEO's shares.
The exact amount of the first three donations through Chan Zuckerberg Initiative will not exceed 1 twice a year.
The announcement was made through a letter from both parents, Zuckerberg and Chan to their newborn daughter (who named Max), focusing on two key objectives: promoting human potential and promoting equality.
The first goal will include donations to medicine, affordability and access in information. The second group of projects will focus more on reducing poverty and empowering traditionally under-represented groups.
"Our society must do this, not only for justice or for charity, but also for the greatness of human progress," the letter said.
Let's just say that this year alone Chan Zuckerberg Foundation has donated over 125 million dollars to charity.