Mark Zuckerberg to Donate $45B in Facebook Shares to Charity

Mark Zuckerberg will put 99 percent of his Facebook Inc. shares, currently worth about $45 billion, into a new philanthropy project focusing on human potential and equality, he and his wife said Tuesday in a letter to their newborn daughter.

The plan, which was posted on the Facebook founder and CEO's page, attracted more than 570,000 "likes." Bill and Melinda Gates and other high-profile billionaires, such as Warren Buffett, have set up foundations of their own to dedicate their massive fortunes to philanthropic endeavors.

Zuckerberg, 31, who will control the new initiative jointly with his wife, Priscilla Chan, while remaining in charge of the world's largest online social network, said he would sell or give up to $1 billion in shares in each of the next three years.