FACEBOOK FOUNDER AND CEO Mark Zuckerberg just sold a chunk of his personal shares in the social networking company. It’s worth about $95 million before taxes, and it’s all designated for charity.
This is the first round of funding for the Chan Zuckerberg Initiative, the philanthropic venture Zuckerberg and his wife, Priscilla Chan, announced in December. At the time of the initiative’s launch, Zuckerberg and Chan pledged 99 percent of their Facebook fortune to philanthropic causes, which means donating around $45 billion over the span of their lifetimes.

Jack Dorsey is making what may be the largest private gift to tackling the coronavirus and its consequences, pledging to spend up to $1 billion as part of an unexpected philanthropic push.
The founder of Twitter and Square announced Tuesday that he would move $1 billion of his own money into a limited liability company (LLC), where the funds would go, in part, to addressing the Covid-19 crisis. Dorsey described the gift as intended to “fund global COVID-19 relief,” but didn’t specify how much of the money would be earmarked for that as opposed to pushing for “girls’ health and education” and a universal basic income, which he said the LLC, called Start Small, would back once the pandemic subsides.