Facebook CEO Mark Zuckerberg just had a baby girl named Max, and to honor the occasion he's giving away a massive portion of his wealth.
The CEO took to the social network to announce both the birth of his first child and the formation of the
Chan Zuckerberg Initiative, which he said will "join people across the world to advance human potential and promote equality for all children in the next generation."
"Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities," he wrote.
Zuckerberg will donate nearly all of his Facebook stock to the cause.