Zuckerberg and his wife Priscilla Chan decided to give value $1 billion of Facebook stock to charity each year through 2018.
According to a US regulatory, The Chan Zuckerberg Foundation and CZI Holdings LLC sold Facebook shares values million.
Forbes reported on Saturday, Facebook CEO Mark Zuckerberg has fulfill his promise last year by selling giant share of about $95 million of Facebook, social networking. “The sales likely netted more than $85 million after capital gains taxes”, the report added.
The couple decided to give not more than $1 billion worth of stock each year through 2018. Zuckerberg and his wife Priscilla Chan commit to donate 99 per cent of their Facebook shares that is about $45 billion, to advance human potential and promote equality for children last December.
The couple welcomed their first girl child Maxima Chan Zuckerberg, by declaring “Chan Zuckerberg Initiative”, said, they have opened new foundation that will take care of “curing disease, personalised learning, connecting people and building strong communities”.
“As you begin the next generation of the Chan Zuckerberg family, we also begin the Chan Zuckerberg Initiative to join people across the world to advance human potential and promote equality for all children in the next generation,” they posted in a 2,200-word letter to their new-born daughter on Facebook.
“We will give 99 per cent of our Facebook shares during our lives to advance this mission. We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others,” the couple wrote. Facebook currently has 1.71 billion monthly active users.