In November 2015, Zuckerberg and his wife also pledged in an open letter to their daughter that they would give 99 percent of their Facebook shares to charity.
“We are committed to doing our small part to help create this world for all children,” the couple wrote in the open letter that was posted on Zuckerberg’s Facebook page.
“We will give 99% of our Facebook shares — currently about $45 billion — during our lives to join many others in improving this world for the next generation.”
In September 2016, Zuckerberg and Chan announced that the Chan Zuckerberg Initiative (CZI), the company into which they put their Facebook shares, would invest at least $3 billion into scientific research over the next decade to help “cure, prevent and manage all diseases in our children’s lifetime.”
Renowned neuroscientist Cori Bargmann of The Rockefeller University, was named the president of science at CZI.
They also announced the founding of Chan Zuckerberg Biohub, a San Francisco-based independent research center that will bring together engineers, computer scientists, biologists, chemists and others in the scientific community.
A partnership between Stanford University, the University of California, San Francisco, and the University of California, Berkeley, Biohub will receive initial funding of $600 million over 10 years.