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Facebook’s Mark Zuckerberg to give away 99% of shares

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(Last Updated On: October 25, 2022)

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Facebook’s Mark Zuckerberg and his wife Priscilla Chan say they will give away 99% of their shares in the company to good causes as they announce the birth of their daughter Max.

Mr Zuckerberg made the announcement in a letter to Max on his Facebook page.

He said they are donating their fortune to the Chan Zuckerberg Initiative because they want to make the world a better place for Max to grow up in.

The donation amounts to $45bn (£30bn) at Facebook’s current value.

However the shares will not be donated to charity immediately, but over the course of the couple’s lives.

Max was born last week, although her birth was only made public public on Tuesday.

In his letter Mr Zuckerberg said the aim of the Chan Zuckerberg Initiative is “to advance human potential and promote equality for all children in the next generation”.

Its initial areas of focus will be personalised learning, curing disease, connecting people and building strong communities.

“Your mother and I don’t yet have the words to describe the hope you give us for the future,” Mr Zuckerberg said at the start of his letter to Max.

“You’ve already given us a reason to reflect on the world we hope you live in,” it added.

The letter highlighted the important role of technology in achieving the couple’s goals of advancing human potential and equality.

“Many of the greatest opportunities for your generation will come from giving everyone access to the internet,” Mr Zuckerberg wrote to his daughter.

He said more details about the donation will be released once he and Ms Chan return from paternity and maternity leave.

Mr Zuckerberg, who Forbes estimate is worth some $46.8bn, said he will remain chief executive of Facebook for “many, many years to come”.

In a filing to the US Securities and Exchange Commision, Facebook said that Mr Zuckerberg “plans to sell or gift no more than $1bn of Facebook stock each year for the next three years and that he intends to retain his majority voting position…for the foreseeable future.”

Written by: BBC

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IEA urges World Bank to resume work on 7,000 incomplete projects

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(Last Updated On: April 19, 2024)

Officials at the Ministry of Rural Rehabilitation and Development (MRRD) say 7,000 incomplete projects of the World Bank are at risk of destruction in Afghanistan. They call on the World Bank to resume the work of these projects.

According to them, discussions have been held with the World Bank about these projects, but there has been no result yet.

“7,000 incomplete projects are being destroyed, and if the work is not started, these projects will be destroyed. We ask the World Bank to resume the work of these projects as soon as possible,” said Noorul Hadi Adel, the spokesperson of MRRD.

Meanwhile, members of the private sector also ask international institutions to resume their work in Afghanistan.

According to the officials of this sector, with the start of these projects, job opportunities will be provided for thousands of people in the country.

“These projects create employment for our people and the country will grow a lot,” said Mirwais Hajizadeh, a member of the private sector.

However, economic experts stated if the work of these projects does not start soon, they will be destroyed and the investments made in them will be wasted.

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Ten people killed by floods in Helmand

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(Last Updated On: April 19, 2024)

Ten people have been killed and six others injured by floods in Helmand province in the past week, local officials said on Friday.

According to officials, seven of those were members of the same family, and they were killed in Kajaki district last night.

“Most of the people moved from vulnerable areas to high lands and mountains, and thanks Allah the number of casualties is low,” Sher Mohammad Vahdat, the head of information of the Directorate of Information and Culture in Helmand, said adding rescue teams and security forces have been dispatched to help people.

It is said that the telecommunication system has also been disrupted due to the effect of floods in Kajaki district. Floods have also destroyed thousands of acres of agricultural land.

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UN envoy meets Indian foreign minister to discuss Afghanistan

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(Last Updated On: April 19, 2024)

Roza Otunbayeva, the UN Secretary General’s Special Representative for Afghanistan, met with the Indian Foreign Minister Subrahmanyam Jaishankar in New Delhi and discussed issues related to Afghanistan, it was announced on Thursday.

During the meeting, Otunbayeva thanked India for “its critical humanitarian support and longstanding friendship for the Afghan people” and discussed the importance of regional and international cooperation to address prevailing challenges in Afghanistan, UNAMA said on X.

Jaishankar also said on X that the sides exchanged views on the current situation in Afghanistan.

“Underlined that India has provided wheat, medicines, pesticides and school supplies. Appreciate the role of UN agencies as partners in these endeavors,” he said.

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