Why Mark Zuckerberg Just Pledged to Give Away 99% of His Facebook Stock
If sold at today's value, the value of that stock would be $45 billion.
Fatherhood has already made Mark Zuckerberg a very generous man. While he and his wife, Priscilla Chan, announced the birth of their new daughter, Max, the Facebook CEO pledged to give away 99 percent of his own stock in Facebook. Profits from nearly all future stock sales will go to philanthropic efforts. If sold today, that would equal approximately $45 billion.
In 2010, Zuckerberg signed the Giving Pledge, a commitment by the world's wealthiest individuals to sign more than half of their fortune away for the good of humanity. Today's announcement makes good on that pledge, with Zuckerberg making his commitment in an open letter to their daughter.
The letter itself is a fascinating glimpse at what Zuckerberg may aim to do with his sizable fortune. Perhaps the most fascinating and futuristic question he poses about how future generations will benefit from science and technology is this:
Can you learn and experience 100 times more than we do today?
The aim of the letter undergirds some of Facebook's current aims, such as connecting the entire world to the Internet, bypassing wired delivery systems and beaming signals from solar-powered drones, for example. Here is an excerpt from the letter:
Swipe right to make the connections that could change your career.
Swipe right. Match. Meet over coffee or set up a call.
No, we aren't talking about Tinder. Introducing Shapr, a free app that helps people with synergistic professional goals and skill sets easily meet and collaborate.
Is it "perverseness," the "death drive," or something else?
Eight-dimensional octonions may hold the clues to solve fundamental mysteries.
- Physicists discover complex numbers called octonions that work in 8 dimensions.
- The numbers have been found linked to fundamental forces of reality.
- Understanding octonions can lead to a new model of physics.
It's up to us humans to re-humanize our world. An economy that prioritizes growth and profits over humanity has led to digital platforms that "strip the topsoil" of human behavior, whole industries, and the planet, giving less and less back. And only we can save us.
- It's an all-hands-on-deck moment in the arc of civilization.
- Everyone has a choice: Do you want to try to earn enough money to insulate yourself from the world you're creating— or do you want to make the world a place you don't have to insulate yourself from?
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