Zuckerberg, wife pledge 99% of Facebook shares to charity to mark daughter's birth

Facebook Inc. Chief Executive Mark Zuckerberg and wife Priscilla Chan announced Tuesday the birth of their daughter, Max, and a plan to donate almost his entire stake in the social network. Through the Chan Zuckerberg Initiative, the couple pledged to give 99% of their Facebook shares, worth about $45 billion, during their lives to advance "human potential and promote equality for all children in the next generation," Zuckerberg said in a Facebook post addressing the newborn. "We'll share more details in the coming months ... We understand you'll have many questions about why and how we're doing this," Zuckerberg said in the post. Shares of Facebook fell 0.1% in late trading Tuesday after ending the day up 2.8%

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.