Chan, Zuckerberg Donate Facebook Shares Worth $2 Billion

Chan, Zuckerberg Donate Facebook Shares Worth $2 Billion

Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, have donated shares in the company worth almost $2 billion to fund their philanthropic initiatives, the Chronicle of Philanthropy reports.

According to a Securities and Exchange Commission filing earlier this week, the couple transferred 10.3 million shares of Facebook stock worth nearly $1.9 billion to the Chan Zuckerberg Foundation, the 501(c)(3) arm of the Chan Zuckerberg Initiative, a limited-liability company they established in 2015 as a vehicle for their philanthropic and public advocacy activities. The couple also donated more than nine hundred thousand shares valued at nearly $162.4 million to the Chan Zuckerberg Donor Advised Fund at the Silicon Valley Community Foundation.

The gifts are part of the couple's pledge in September to sell between thirty million and seventy-five million shares of Facebook stock over the next eighteen months in support of initiatives in the areas of criminal justice reform, education, housing, and science. Zuckerberg and Chan, who signed the Giving Pledge in 2010, have pledged to donate 99 percent of their Facebook shares — valued at more than $45 billion at the time of their pledge announcement in December 2015 — to CZI Holdings. With an estimated net worth of $74 billion, the couple have given more than $3.6 billion to charity to date.

Maria Di Mento. "Zuckerberg and Chan Pour $2 Billion in Stock Into Charity Accounts." Chronicle of Philanthropy 11/08/2017.