Mark Zuckerburg Donates 99% Of Facebook Stock Worth $95 Million To Charity
In December 2015, Mark Zuckerberg, the CEO of Facebook and a new father to his baby girl, Max, wrote a letter for her. Mark Zuckerberg together with his wife Priscilla Chan has pledged to help various charities and institutions by donating 99 per cent of their present Facebook shares which costs $95 million total.
This is under the banner of the Zuckerberg Chan Initiative. However, despite recent publicities about the matter, there is still little known about the expenditure of the ton of cash that will be donated. There are reports and speculations that it will go to the educational, health, and science sector.
One of the beneficiaries of the Zuckerberg Chan Initiative is the Andela, which is an educational startup organization that aims to put an end to the technological gap in third world countries. Zuckerberg publicized the plan together with Priscilla Chan, right after the two had their very first child last December.
Zuckerberg says that the mission of the charitable proceedings will be to "advance human potential and promote equality for all children in the next generation." The statement is considered to be the first one coming from Zuckerberg ever since the charitable announcement was made last year.
Zuckerberg also adds that his expenditures and donations will be limited to $1 billion yearly for the upcoming three years.
It is also seen that the structure of Facebook Incorporated has radically changed to adapt to the charitable longings of Zuckerberg, without the risk of losing control and suffering the same fate with Steve Jobs in the early days of Apple; of course different from the perspective of charitable institutions. One of the company's spokesperson chooses to remain silent, amidst speculations on where the will-be-donated sum of money worth $95 million will be thoroughly spent.
Currently, Mark Zuckerberg still has ownership of more than 400 million shares of stocks on Facebook.
Trump Leaves Paris Climate Deal Amid Warnings From Tesla, Apple, Facebook And Google
Donald Trump has been met with disdain by numerous tech leaders and the whole world, for that matter, after his decision to pull the United States out of the Paris Agreement.
Microsoft Research Reveals Prototype AR Glasses And It Looks Like This
The HoloLens is able to track the movements of its user’s head and position. It is also completely wireless and runs on battery power while projecting stereoscopic 3D images to each of the user's eyes.
Facebook's Latest Feature Will Display Strangers' Posts
Facebook adds new "Latest Conversations" feature to keep you updated and will show you posts from strangers.
Facebook Oculus Story Studio VR Content Division Is Shutting Down
Oculus Story Studio, the award-winning studio behind virtual reality (VR) short films like “Dear Angelica” and “Henry,” is being shut down, Facebook announced Thursday afternoon. The studio’s 50 staffers are encouraged to apply for new jobs within Oculus.
Avoid Scams On Social Media With These Helpful Tips
Social media network is a place full of opportunities especially for people devising scams so pay attention and find out to spot scams.
MORE IN ITECHPOST
Top TikTok Growth Services to Check Out This Year
It's 2020, which means that it's the year of the TikTok. If you haven't already noticed, TikTok is a pretty big deal.
Wellness Technology is a Billion Dollar Industry. Here Comes the Next Wave: Death Positive & Grief Wellness
The World Health Organization estimates that 25% of all people will be affected by mental or neurological disorders at some point in their lives, with roughly 450 million individuals currently struggling with a condition.
Eight Must-Have Tools to Keep Your Car Out of Garage
We all dread taking our car to a garage for repairs. We might just want to avoid the inconvenience of being off the road or maybe the costs associated, which can even lead to knock-on effects on things like our holiday plans.
6 Hacks for Students to Choose a Laptop While on a Budget
The modern world tries to drown us in the sea of choices. One can’t simply buy a laptop - there are hundreds of laptops around and sometimes our budget becomes the only real limitation we can rely on. But how to choose other parameters to get the best laptop possible?