Mark Zuckerberg and wife to give 99 percent of their Facebook shares to a foundation

Zuckerberg and his wife along with their new daughter. Facebook photo

PALO ALTO, Calif. (NBCNEWS) — Facebook founder Mark Zuckerberg and his wife, Priscilla Chan, have announced the birth of their daughter, Max — and pledged to give billions to charity in honor of the birth.

In a letter to Max posted on Facebook, Zuckerberg pledged to give 99 percent of his shares in the company (worth about $45 billion) to a charitable foundation he and Priscilla are creating.

In the baby girl’s honor, Zuckerberg said that over the course of their lives he and Chan would donate the Facebook shares to the Chan Zuckerberg Initiative, an organization meant to “advance human potential and promote equality for all children in the next generation” through “personalized learning, curing disease, connecting people and building strong communities.”

Zuckerberg originally announced that Chan was pregnant in July with a Facebook post that revealed that the couple had been trying to have a baby for years but experienced three miscarriages.

The Facebook CEO included a letter to his daughter in Tuesday’s post.

“Max, we love you and feel a great responsibility to leave the world a better place for you and all children,” he wrote. “We wish you a life filled with the same love, hope and joy you give us. We can’t wait to see what you bring to this world.”

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