Mark Zuckerberg Responds To Skeptics, Elaborates On LLC Plan

After new parents Mark Zuckerberg and Priscilla Chan revealed their plans this week to give away 99 percent of their Facebook shares, a firestorm of controversy erupted. On the one hand, many people --  including Bill Gates and former New York City Mayor Michael Bloomberg -- praised the couple for the generous gesture. Others, however, questioned their motives.

Zuckerberg and Chan currently own about $45 billion worth of Facebook stock. A vast majority of that wealth, they said, will be funnelled into the newly-launched Chan Zuckerberg Initiative. A limited-liability company (LLC), the organization will “join people across the world to advance human potential and promote equality for all children in the next generation,” the couple vowed in a Facebook post on Tuesday.