Zuckerberg welcomes baby, announces plan to give up 99% of shares

Facebook CEO Mark Zuckerberg on Tuesday announced the birth of his daughter — and his long-term plan to give away nearly all of his Facebook shares.

In it, the parents said they plan to give away 99 percent of their Facebook shares — currently worth $45 billion — during their lifetimes to contribute to such fields as “personalized learning, curing disease, connecting people and building strong communities.”

Despite the plan to offload shares — and his planned two months of paternity leave — Zuckerberg said he expects to retain control over Facebook for the foreseeable future.

The couple’s move puts them in line with other tech executives who have given away huge wealth to philanthropic efforts.

Facebook is already working on some of those initiatives, to expand Internet access to people around the world, for example.

Zuckerberg and Chan have also given to health care causes, donating $75 million to San Francisco General Hospital in February, and educational projects, including a planned school in East Palo Alto.

People often think of the Internet as just for entertainment or communication.

Taryn Langer, president and founder of Moxie Communications Group, called the move to connect the baby announcement with the donation smart marketing.