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Mark Zuckerberg gives new meaning to the word ‘tzedakah’

Mr. Zuckerberg made the announcement in a letter to Max on his Facebook page. The commitment also turned heads as Zuckerberg and Chan are among the youngest billionaires to have pledged their wealth. The letter written for Zuckerberg and Chan’s newborn child emphasizes on: advancing equality and promoting human potential.

“Mark and Priscilla are early in their careers and will continue to lead active lives – Priscilla as a pediatrician and Founder and CEO of The Primary School, and Mark as the leader of Facebook“, according to the statement.

Like all parents, we want you to grow up in the world better than ours today. “The greatest challenges require very long time horizons and can not be solved by short-term thinking”.

“On December 1, 2015, our Founder, Chairman and CEO, Mark Zuckerberg, announced that, during his lifetime, he will gift or otherwise direct substantially all of his shares of Facebook stock, or the net after-tax proceeds from sales of such shares, to further the mission of advancing human potential and promoting equality by means of philanthropic, public advocacy, and other activities for the public good”, the filing reads. The couple will be in charge of the initiative although Zuckerberg won’t be quitting his day job. They are forming a new organization, called the Chan-Zuckerberg Initiative, that will pursue those goals through a combination of charitable donations, private investment, and promotion of government-policy reform.

Zuckerberg, 31, previously announced that the couple had suffered three miscarriages over the last two years. But he said the couple will transfer most of their wealth to the initiative “during our lives”.

Daniel Ives, managing director of the technology, media and telecom research group at FBR Capital Markets, told ABC News that he doesn’t foresee any issues when it comes to Zuckerberg’s controlling interest in Facebook.

“Mom and baby are both healthy and doing well”, Horwitz added. The couple plans to reveal more in the coming months.

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