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Mark Zuckerberg is using his Facebook fortune to tackle social issues
The will-Zuckerberg-run, won't-Zuckerberg-run-for-President speculation has driven most of the news about the Facebook cofounder this year. But he, along with his wife Priscilla Chan, have been quietly funding two particular progressive agendas with their Chan Zuckerberg Initiative (CZI) on top of its wide-spanning philanthropy. The CZI has quietly given a total of $45 million to groups addressing two specific causes: ending mass incarceration and improving affordable housing.
Chan Zuckerberg Initiative acquires Meta's scientific search engine
In September, Facebook CEO and his wife Dr. Priscilla Chan promised to spend a whopping $3 billion of the Chan Zuckerberg Initiative's extensive capital over the next 10 years, as it works towards its lofty goal of curing, preventing or managing all diseases by the end of the century. To get a little bit closer to that goal, the Initiative announced Monday that it will acquire the AI-powered research paper search engine Meta and make the service free for anyone to use.
Chan Zuckerberg Initiative to invest $3 billion to cure disease
Facebook CEO Mark Zuckerberg launched the Chan Zuckerberg Initiative last year with his wife, Priscilla Chan, in an effort to try to "advance human potential and promote equality for all children in the next generation." The two pledged to donate 99 percent of their Facebook shares -- which is worth upwards of $50 billion -- to the cause. Today, the couple held a press event in San Francisco to announce their next big project: curing diseases. Indeed, it has pledged $3 billion over the next decade to cure, prevent and manage all diseases by the end of the century.
Mark Zuckerberg will donate 99 percent of his Facebook shares
While birth announcements are common on Facebook, founder Mark Zuckerberg's post is a little different than most of the new parent pics in your newsfeed. That's because along with welcoming daughter Maxima to the family, he and his wife Priscilla Chan announced their commitment to give away 99 percent of their Facebook shares -- currently worth about $45 billion -- to fund the Chan Zuckerberg Initiative that will try to "advance human potential and promote equality for all children in the next generation." The two joined the Giving Pledge in 2010, promising to use most of their wealth for philanthropic efforts, and today's announcement sheds more detail on how that will happen.
