After new parents Mark Zuckerberg and Priscilla Chan revealed their plans this week to give away 99 percent of their Facebook shares, a firestorm of controversy erupted. On the one hand, many people -- including Bill Gates and former New York City Mayor Michael Bloomberg -- praised the couple for the generous gesture. Others, however, questioned their motives.
Zuckerberg and Chan currently own about $45 billion worth of Facebook stock. A vast majority of that wealth, they said, will be funnelled into the newly-launched Chan Zuckerberg Initiative. A limited-liability company (LLC), the organization will “join people across the world to advance human potential and promote equality for all children in the next generation,” the couple vowed in a Facebook post on Tuesday.
