Mark Zuckerberg Donates $95M Facebook Shares in Charity
IANS- In the first gesture to fulfill 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% of their Facebook shares - about $45 billion - to advance human potential and promote equality for children.
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