Zuckerberg sells $95 million in Facebook shares for philanthropy
Facebook founder and CEO Mark Zuckerberg and his wife, Priscilla Chan, sell company shares to fund their charitable efforts.
Facebook founder and CEO Mark Zuckerberg and his wife, Priscilla Chan, sold company shares valued at nearly $95 million to fund their charitable efforts.
The funds reportedly were sold by the Chan Zuckerberg Foundation and CZI Holdings LLC, both owned by the couple, according to a filing with the Securities and Exchange Commission last Friday.
The price of the shares ranged from $122.85 to $124.31. The sale reportedly was scheduled months ago to avoid insider trading issues.
Late last year Zuckerberg and Chan pledged to give away 99 percent of their shares in the company “during our lives” to charity. The pledge, then worth approximately $45 billion, came in a Facebook post on Dec. 1, 2015, announcing the birth of their daughter, Max.
The Chan Zuckerberg Initiative was formed to fund charities, companies and policies for “advancing human potential and promoting
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