Zuckerberg gives away $95 million Facebook shares in charity

Zuckerberg gives away $95 million Facebook shares in charity

In the first gesture to fulfil his pledge that he and his wife made last year, Facebook CEO Mark Zuckerberg has sold $95 million of the social networking giant`s shares. According to a US regulatory filing, The Chan Zuckerberg Foundation and CZI Holdings LLC sold Facebook shares worth $95 million before taxes, Forbes reported on Saturday.

“The sales likely netted more than $85 million after capital gains taxes, the report added. The couple plans to give away no more than $1 billion worth of stock each year through 2018. Last December, Zuckerberg and his wife Priscilla Chan pledged to donate 99 percent of their Facebook shares — about $45 billion — to advance human potential and promote equality for children.

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