(credit: Mark Zuckerberg)

In a public post on Facebook, CEO Mark Zuckerberg and his wife Priscilla Chan announced Tuesday that they will donate 99 percent of their Facebook shares "during their lives"—an amount currently worth $45 billion—to their new charity, the Chan Zuckerberg Initiative.

The organization, which seems to be modeled on the Gates Foundation, states its laudable albeit vague goal to “join people across the world to advance human potential and promote equality for all children in the next generation.”

The announcement came in the form of a public letter to their newly born daughter Max. It addresses important long-term goals that are often stymied in the public sector, things like “advancing human potential and promoting equality.”

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