Mark Zuckerberg and his wife celebrate the birth of their daugher, pledging 99 per cent of their Facebook shares to a new charity. Paul Chapman reports.
BROADCAST AND DIGITAL RESTRICTIONS~** Broadcasters: NONE Digital: NONE*~ Mark Zuckerberg and his wife Priscilla Chan celebrate the birth of their daughter Max with a promise to give 99 per cent of their Facebook shares to a new charity. The couple announced the move in a letter addressed to their baby. They revealed the plan to give away the shares, currently worth about $45 billion, on Zuckerberg's Facebook page. The shares will go to an organisation controlled by the two which will focus on education, curing disease, building communities and on widening internet access. On the streets of Los Angeles the plan appeared to win widespread public support. (SOUNDBITE) (English) CLAIRE DELOHELY FROM SYDNEY, AUSTRALIA SAYING: "I think it's a great idea. I think if you've got excess, then you should give some to people who need it." (SOUNDBITE) (English) DORA RODRIGUEZ FROM MONTEREY PARK, CALIFORNIA SAYING: "People are poor and they need all the help they can get." (SOUNDBITE) (English) ERIC DECKER FROM CHICAGO, ILLINOIS SAYING: "I think it was 99 percent as well, so I'm sure the one percent he has left will be plenty for his kids, it sounds like." (SOUNDBITE) (English) KAYE PORTER FROM LOS ANGELES, CALIFORNIA SAYING: "The thing is, passing it on to the future generation is about legacy, but if you're not sure what's going to happen in the future, why don't you use it to make improvements for the world today, so that there is actually a legacy." The shares will be given over the couple's lifetimes. The plan follows in the footsteps of other high-profile billionaires who've set up foundations to give their fortunes to charity, like Bill and Melinda Gates, and Warren Buffet. Zuckerberg says he still plans to be Facebook CEO for many years to come. Facebook says he's expected to remain the controlling stock-holder for the foreseeable future.