Zuckerberg's Big Giveaway: How It Works

The Facebook founder plans to give away almost all of his shares - but he's not likely to lose control of it any time soon
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Mark Zuckerberg has revealed he plans to give away 99% of his $45bn Facebook fortune as he announced the birth of his first child Max. Here is what it all means and how it works.
So Facebook founder Mark Zuckerberg is giving these shares to charity, right?
Wrong. Despite a number of news organisations initially claiming this, that's not the case.
What's happening then?
His initiative will take the form of a limited liability company (LLC) called the Chan Zuckerberg Initiative, rather than a charitable trust. In the US an LLC is a type of private limited company, which does not need to be organised for profit.
Mark and his wife Dr Priscilla Chan will donate their shares to the initiative.
The LLC will then make private investments to support the foundation’s work.

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