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FACEBOOK MOGUL ZUCKERBERG IS A DAD AND HE IS GIVING AWAY $45 BILLION


DECEMBER 2 -In this photo taken Friday, Nov. 13, 2015, chief of staff Dr. Jim Marks looks over the new lobby of Zuckerberg San Francisco General Hospital in San Francisco. Local officials will gather in San Francisco this weekend to dedicate a new public hospital building, furnished and equipped in part by a $75 million gift from Mark Zuckerberg, the Facebook CEO, and his wife, Priscilla Chan, a pediatrician who gained her medical training at the old San Francisco General Hospital. (AP Photo/Eric Risberg)
SAN FRANCISCO, United States — Facebook CEO Mark Zuckerberg and his wife announced the birth of their daughter Max as well as plans to donate most of their wealth, or roughly $45 billion, to a new organization that will tackle a broad range of the world’s ills.
Zuckerberg’s wife, Priscilla Chan, gave birth last week to a baby girl. The couple didn’t put out the news until Zuckerberg posted it Tuesday on — of course — Facebook. In the same post, Zuckerberg said he and Chan will commit 99 percent of their Facebook stock to such causes as fighting disease, improving education, harnessing clean energy, reducing poverty and promoting equal rights. They are forming a new organization, called the Chan Zuckerberg Initiative, to pursue those goals. THE FULL REPORT. RELATED, USA TODAY Mark Zuckerberg to take two months off after his child is born...

ALSO: Mark Zuckerberg welcomes baby girl Max, pledges to give away 99% of Facebook shares


Zuckerbaby.jpg (Photo: Courtesy of Mark Zuckerberg)
In the wake of the birth of their baby girl Max, Facebook CEO Mark Zuckerburg and his wife Priscilla Chan pledged to give 99% of their Facebook shares to charity over their lifetime currently valued at about $45 billion. VPC SAN FRANCISCO — Mark Zuckerberg and Dr. Priscilla Chan celebrated the birth of a baby girl with the stunning announcement they plan to give away most of their fortune through a new initiative to "advance human potential and promote equality for all children in the next generation."
The billionaire Facebook founder and chief executive and his physician wife pledged to give away 99% of their Facebook shares in their lifetime, currently worth about $45 billion. They made the announcement in a letter to their newborn daughter Max posted on Facebook on Tuesday, the national day of giving known as #GivingTuesday. Max was born "early the week of Thanksgiving," Facebook said. "Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities," Zuckerberg and Chan wrote to their daughter. "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." Facebook's Chief Operating Officer Sheryl Sandberg commented on Facebook: "This is a beautiful letter and an incredible commitment to future generations." The pledge is remarkable given Zuckerberg's relative youth — he's 31 — and because he's still at the apex of his career running Facebook, a prosperous tech giant that powers the world's most popular social network and boasts a $300 billion market cap. The size of his fortune is so large that, even if he were to give all 99% of his shares away today, he and Chan would still be sitting on Facebook shares worth an estimated $450 million. READ MORE...RELATED, Mark Zuckerberg, wife expecting baby girl ...

ALSO USA TODAY: New charitable zeal grips tech billionaires


Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, visit the White House Sept. 25, 2015. (Photo: Manuel Balce Ceneta, AP) Philanthropy coming from a tech pioneer so early in his career drew plaudits. In a statement distributed by Facebook, Bill and Melinda Gates said: "As for your decision to give back so generously, and to deepen your commitment now, the first word that comes to mind is: Wow. The example you’re setting today is an inspiration to us and the world. We can be confident of this: Max and every child born today will grow up in a world that is better than the one we know now. As you say, 'seeds planted now will grow.' Your work will bear fruit for many decades to come." Warren Buffett, who conceived of The Giving Pledge with Bill Gates, said Zuckerberg and Chan "are breaking the mold with this breathtaking commitment." "A combination of brains, passion and resources on this scale will change the lives of millions," Buffett said in the prepared statement. "On behalf of future generations, I thank them." CONTINUE READING: USA TODAY Mark Zuckerberg to take two months off after his child is born ...

ALSO A Story of giving from the Bill&Melissa Gates Foundation:  GIVING TO RECEIVE
[This couple lives on 6% of their income so they can give $100,000 a year to charity]


If they can do it... (Julia Wise/Jeff Kaufman)
WRITTEN BY William MacAskill October 09, 2015 Julia Wise is a social worker and her husband, Jeff Kaufman, is a software engineer. In 2013, their combined income was just under $245,000, putting them in the top 10% of US households. And yet, excluding taxes and savings, they lived on just $15,280, or 6.25% of their income. What happened to the rest of their income, just under $100,000? They gave it to charity. CONTINUE READING...

ALSO 'THE GIVING PLEDGE'


Started by William Buffet and Bill Gates, The Giving Pledge is a commitment by the world's wealthiest individuals and families to dedicate the majority of their wealth to philanthropy. Click link below to meet current pledgers..........


READ FULL MEDIA REPORTS:

Zuckerberg is a dad, and he’s giving away $45 billion

SAN FRANCISCO, DECEMBER 7, 2015 (INQUIRER) @inquirerdotnet Associated Press 07:19 AM December 2nd, 2015


In this photo taken Friday, Nov. 13, 2015, chief of staff Dr. Jim Marks looks over the new lobby of Zuckerberg San Francisco General Hospital in San Francisco. Local officials will gather in San Francisco this weekend to dedicate a new public hospital building, furnished and equipped in part by a $75 million gift from Mark Zuckerberg, the Facebook CEO, and his wife, Priscilla Chan, a pediatrician who gained her medical training at the old San Francisco General Hospital. (AP Photo/Eric Risberg)

SAN FRANCISCO, United States — Facebook CEO Mark Zuckerberg and his wife announced the birth of their daughter Max as well as plans to donate most of their wealth, or roughly $45 billion, to a new organization that will tackle a broad range of the world’s ills.

Zuckerberg’s wife, Priscilla Chan, gave birth last week to a baby girl. The couple didn’t put out the news until Zuckerberg posted it Tuesday on — of course — Facebook.

In the same post, Zuckerberg said he and Chan will commit 99 percent of their Facebook stock to such causes as fighting disease, improving education, harnessing clean energy, reducing poverty and promoting equal rights. They are forming a new organization, called the Chan Zuckerberg Initiative, to pursue those goals.

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RELATED FROM USA TODAY

USA TODAY Mark Zuckerberg to take two months off after his child is born

News of the Chan Zuckerberg initiative comes just days after Zuckerberg announced he would team up with Gates to invest in The Breakthrough Energy Coalition, a clean energy fund, that will explore ideas that "have the potential to transform the way we all produce and consume energy."

A press statement from Facebook says the initiative will fund nonprofit organizations, make private investments and participate in policy debates "in each case with the goal of generating positive impact in areas of great need."

"Any profits from investments in companies will be used to fund additional work to advance the mission," the statement says. Follow USA TODAY senior technology writer Jessica Guynn @jguynn


USA TODAY

Mark Zuckerberg welcomes baby girl Max, pledges to give away 99% of Facebook shares Jessica Guynn, USA TODAY 8:28 p.m. EST December 1, 2015


Zuckerbaby.jpg (Photo: Courtesy of Mark Zuckerberg) In the wake of the birth of their baby girl Max, Facebook CEO Mark Zuckerburg and his wife Priscilla Chan pledged to give 99% of their Facebook shares to charity over their lifetime currently valued at about $45 billion. VPC

SAN FRANCISCO — Mark Zuckerberg and Dr. Priscilla Chan celebrated the birth of a baby girl with the stunning announcement they plan to give away most of their fortune through a new initiative to "advance human potential and promote equality for all children in the next generation."

The billionaire Facebook founder and chief executive and his physician wife pledged to give away 99% of their Facebook shares in their lifetime, currently worth about $45 billion. They made the announcement in a letter to their newborn daughter Max posted on Facebook on Tuesday, the national day of giving known as #GivingTuesday. Max was born "early the week of Thanksgiving," Facebook said.

"Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities," Zuckerberg and Chan wrote to their daughter. "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."

Facebook's Chief Operating Officer Sheryl Sandberg commented on Facebook: "This is a beautiful letter and an incredible commitment to future generations."

The pledge is remarkable given Zuckerberg's relative youth — he's 31 — and because he's still at the apex of his career running Facebook, a prosperous tech giant that powers the world's most popular social network and boasts a $300 billion market cap. The size of his fortune is so large that, even if he were to give all 99% of his shares away today, he and Chan would still be sitting on Facebook shares worth an estimated $450 million.

READ MORE...

Facebook said Zuckerberg's gradual dispersal of Facebook shares would not affect his status as the controlling shareholder of Facebook "for the foreseeable future." Zuckerberg has committed to disposing of no more than $1 billion of Facebook stock (FB) each year for the next three years, Facebook said.

Zuckerberg will continue his role as chairman and CEO "for many, many years," Facebook said in a statement.

"Mark and Priscilla are early in their careers and will continue to lead active lives — Priscilla as a pediatrician and Founder and CEO of The Primary School, and Mark as the leader of Facebook," according to the statement. "They have been very fortunate in their work and do not want to wait until later in life to give back. Instead, they believe in pursuing philanthropy concurrently with pursuing their professional careers."

Zuckerberg and Chan made the surprise announcement after the close of trading. Facebook shares barely budged after hours.

Last month, Zuckerberg said he would take two months of paternity leave after the birth of his daughter, setting a new precedent for technology chief executives. Facebook has not said who will run the company in Zuckerberg's absence.

Zuckerberg and Chan declined an interview request.

GATES FOOTSTEPS

The Chan Zuckerberg Initiative follows in the footsteps of the Gates Foundation, started by Microsoft founder Bill Gates and wife Melinda Gates and is part of a growing wave of philanthropy from the Facebook generation of entrepreneurs in Silicon Valley. Zuckerberg had already signed The Giving Pledge, a public commitment to give away at least 50% of his or her wealth or more during his or her lifetime or upon his or her death.

He and Priscilla have donated $1.6 billion to philanthropy, including $120 million to support education in underserved communities in the Bay Area, $75 million to San Francisco General Hospital to complete a new trauma center and buy equipment and technology, $25 million to the Centers for Disease Control and Prevention to help stop the spread of Ebola and $100 million to the Newark Public School System.

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RELATED

Mark Zuckerberg, wife expecting baby girl  Maeve McDermott, USATODAY 2:33 p.m. EDT July 31, 2015 635661061023317577-zuck (Photo: Steve Jennings for Breakthrough PR) 230 CONNECT TWEET 1 LINKEDIN 23 COMMENT EMAIL MORE


Mark Zuckerberg and his wife, Priscilla Chan. (Photo: Steve Jennings for Breakthrough PR)

 It was only fitting that Mark Zuckerberg announced that he's going to be a father on Facebook.

In a Facebook post Friday, Zuckerberg wrote that he and his wife Priscilla Chan are expecting a baby girl.

"This will be a new chapter in our lives," he wrote. "We've already been so fortunate for the opportunity to touch people's lives around the world -- Cilla as a doctor and educator, and me through this community and philanthropy. Now we'll focus on making the world a better place for our child and the next generation."

In addition to sharing the happy news, Zuckerberg also wrote his note to break the silence around miscarriages, a tragedy that many couples deal with in silence compared to the pregnancy and birth announcements so common to Facebook.

We want to share one experience to start. We've been trying to have a child for a couple of years and have had three miscarriages along the way.

You feel so hopeful when you learn you're going to have a child. You start imagining who they'll become and dreaming of hopes for their future. You start making plans, and then they're gone. It's a lonely experience. Most people don't discuss miscarriages because you worry your problems will distance you or reflect upon you -- as if you're defective or did something to cause this. So you struggle on your own.

In today's open and connected world, discussing these issues doesn't distance us; it brings us together. It creates understanding and tolerance, and it gives us hope.

Zuckerberg was inspired to share his and Priscilla's story after talking to friends and realizing how frequently miscarriages occured — and, more hopefully, how often healthy pregnancies followed them.

"We hope that sharing our experience will give more people the same hope we felt and will help more people feel comfortable sharing their stories as well," he wrote. "Our good news is that our pregnancy is now far enough along that the risk of loss is very low and we are very hopeful."

He also joked that his unborn daughter may have Facebook in her DNA. "In our ultrasound, she even gave me a thumbs up "like" with her hand, so I'm already convinced she takes after me."

Mark and Priscilla have been married since 2012.

HERE'S MARK's TWEET:


USA TODAY: New charitable zeal grips tech billionaires


Facebook CEO Mark Zuckerberg and his wife, Priscilla Chan, visit the White House Sept. 25, 2015. (Photo: Manuel Balce Ceneta, AP)

Philanthropy coming from a tech pioneer so early in his career drew plaudits.

In a statement distributed by Facebook, Bill and Melinda Gates said: "As for your decision to give back so generously, and to deepen your commitment now, the first word that comes to mind is: Wow. The example you’re setting today is an inspiration to us and the world. We can be confident of this: Max and every child born today will grow up in a world that is better than the one we know now. As you say, 'seeds planted now will grow.' Your work will bear fruit for many decades to come."


The Giving Pledge Bill and Melinda Gates join Warren Buffett in “The Giving Pledge,” an effort to encourage America’s wealthiest families to donate the majority of their wealth to philanthropic causes and charities.

Warren Buffett, who conceived of The Giving Pledge with Bill Gates, said Zuckerberg and Chan "are breaking the mold with this breathtaking commitment."

"A combination of brains, passion and resources on this scale will change the lives of millions," Buffett said in the prepared statement. "On behalf of future generations, I thank them."


GATESFOUNDATION.ORG

One Great Read - The Bill & Melinda Gates Foundation. One meaningful, surprising, urgent story.

MEET JEFF AND JULIE, THE COUPLE OBSESSED WITH GIVING BACK Julia Wise is a social worker and her husband, Jeff Kaufman, is a software engineer. In 2013, their combined income was just under $245,000 USD. And yet they lived on just 6.25% of their income. What happened to the rest? Read the story:

GIVING TO RECEIVE
[This couple lives on 6% of their income so they can give $100,000 a year to charity]


If they can do it... (Julia Wise/Jeff Kaufman)

WRITTEN BY William MacAskill October 09, 2015

THE AUTHOR:

William MacAskill @willmacaskill Associate Professor in Philosophy, Oxford University; cofounder of 80,000 Hours & Giving What We Can; author of 'Doing Good Better', a guide to effective altruism. William MacAskill is a Scottish philosopher and cofounder of the effective altruism movement. He is currently Associate Professor of Philosophy at Lincoln College, Oxford. Born: Scotland, United Kingdom, Influenced by: Peter Singer, Era: Contemporary philosophy, Region: Western philosophy, Books: Doing Good Better, Alma mater: University of Cambridge, University of Oxford. Wikipedia

Julia Wise is a social worker and her husband, Jeff Kaufman, is a software engineer. In 2013, their combined income was just under $245,000, putting them in the top 10% of US households. And yet, excluding taxes and savings, they lived on just $15,280, or 6.25% of their income.

What happened to the rest of their income, just under $100,000? They gave it to charity.

CONTINUE READING...

That’s 40% of their pre-tax earnings, and it’s not a one-off: They’ve donated a comparable percentage every year since 2008.

Jeff and Julia are one of the main stories in Larissa MacFarquhar’s new book Strangers Drowning, in which she presents cases of “extreme virtue.”

On hearing about their actions, you might assume that they must be pretty miserable; you may even think that they sound like a cautionary example of extreme self-denial.

In truth, nothing could be further from the truth. For the last few years, I’ve been lucky enough to count Jeff and Julia as my friends, and I don’t think I’ve ever met a more stable, happy and, well, perfectly normal couple. They prove that you can have a perfectly normal, enjoyable and well-rounded life while making altruism a core part of your identity.

It may seem counterintuitive in our consumerist culture, but “high” levels of giving such as theirs can and do enrich your life, making you happier than you would have been had you spent the same money on yourself. Let’s look at the evidence.

Income is overrated

It’s a truism that money can’t buy happiness. But the saying has become so cliche in recent years people have forgotten exactly what it really means in the first place.

Let’s forget for now the issue of donating, and just consider the impact of having a lower income.

Psychologists have done research into the link between money and happiness. They’ve consistently found that for those of us living in affluent countries, additional income simply does not increase your well-being very much past a certain point.

On average (pdf), people in the US on an income of $32,000 rate their life satisfaction as 7 out of 10; an income of $64,000 only increases the rating to 7.5. That’s a pretty small difference for a (comparably) large sum of money.

Yet we constantly overestimate the impact income will have on our happiness levels. One study (pdf) found that a representative sample of Americans “vastly underestimated the happiness of people earning lower levels of household income ($55,000 and below).”

In fact, this bias isn’t limited to income: in general, we overestimate the degree to which good events improve our happiness and bad events lower our happiness.


We constantly overestimate the impact income
will have on our happiness levels.


There are two reasons for this (pdf).

First, when thinking about changes to our situation (such as loss of income), we put too little weight on the things that will remain constant over that time (such as the presence of friends and loved ones) which will greatly soften the blow.

Second, we too often fail to realize just how good we are at adapting to new situations, including changed levels of income and standards of living. Though lottery winners experience a surge of happiness immediately after their win, one year later their life satisfaction levels are comparable to how they were before.

Once you appreciate this, it makes sense that taking even a large pay cut would have only a small impact on your happiness in the long run. But as we’ll see, giving a proportion of your income is far, far better than missing out on the income to begin with. Not only does it not involve the loss of status that often accompanies a drop in earnings, but giving to good causes makes you feel better.

Giving makes you feel good

Helping others gives us a “warm glow.” One experiment (pdf) showed that the reward centers in the brain were activated when money was transferred from participants to a local food bank; this was true even where the transfers were mandatory.

On average, “donating to charity has a similar relationship
to [happiness] as a doubling of household income.”

Perhaps more surprising is that giving can make you feel better than spending on yourself. In another experiment (pdf), participants were given an envelope containing a small sum of money and told to spend it within 24 hours. Half of them were required to spend the money on themselves (e.g. by paying a bill or buying a treat) and the other half were required to spend it on others (e.g. by buying a present or donating the money to charity).

The results were clear: subjects in the second group reported greater happiness than those in the first.

A wide-ranging international study (pdf) has found a positive connection between giving to charity and subjective well-being, even controlling for household income. The astonishing conclusion was that, on average, “donating to charity has a similar relationship to [happiness] as a doubling of household income.”


Getting serious about giving

What this all suggests is that, far from being a great sacrifice, giving to benefit others might be an effective way to enhance your own quality of life.

You don’t need to give 40% like Julia and Jeff, but I encourage everyone to donate a substantial proportion of their income.

People who join Giving What We Can, a community I helped to found, pledge to give at least 10% to effective charities; today Giving What We Can has over 1,200 members and growing.

And if you’re still worried about the short-term pain of reducing your spending, try this: make a commitment that every time your income goes up in the future, you will donate 50% of your raise. That way you’ll never get used to the increased income, and never really feel its loss.

By giving to the world’s most effective charities, your donated income can make an incredible difference to the lives of the poor and disadvantaged.

If it’s possible to do that while at the same time making yourself happier, then surely we should?

We welcome your comments at ideas@qz.com .



The Giving Pledge is a commitment by the world's wealthiest individuals and families to dedicate the majority of their wealth to philanthropy. VIEW THE CURRENT PLDGERS:>> http://givingpledge.org/


Chief News Editor: Sol Jose Vanzi
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