Mark Zuckerberg thinks he has responsibility to help cure all diseases by the end of the century
As part of Facebook's blockbuster earnings, the company announced a new stock structure that keeps Zuck in full control, even while he gives away most of his shares.
"I'll be able to keep founder control of Facebook so we can continue to build for the long term, and Priscilla and I will be able to give our money to fund important work sooner," the CEO explained in a post on Facebook.
Zuckerberg previously announced that he plans to give away 99% of his Facebook shares, and he outlined the three global challenges that he feels "a responsibility to help solve."
Here's what he's focused on:
- Curing all diseases by the end of this century
- Upgrading our education system so it's personalized for each student
- Protecting our environment from climate change.
"Right now, there are amazing scientists, educators and doctors around the world doing incredible work," he adds. "We want to help them make a bigger difference today, not 30 or 40 years down the road."
Here's Zuckerberg's full letter:
Everything we do at Facebook is focused on our mission to make the world more open and connected.
To maintain our focus on this mission, we have always been a founder-led company. This structure has helped us resist the short term pressures that often hurt companies. It has helped us grow our community, build our business and create shareholder value. It has given us the freedom to prioritize your product experience and invest in new apps like Instagram - decisions that don't always pay off right away, but that we believe help us serve our community and our shareholders.
When I look out at the future, I see more bold moves ahead of us than behind us. We're focused not on what Facebook is today, but on what it can be, and what it needs to be for our community. That means investing in areas like spreading connectivity, building artificial intelligence and developing virtual and augmented reality. I am committed to our mission and to leading Facebook there over the long term.
While helping to connect the world will always be the most important thing I do, there are more global challenges that I feel a responsibility to help solve - like helping to cure all diseases by the end of this century, upgrading our education system so it's personalized for each student, and protecting our environment from climate change. That's why Priscilla and I created the Chan Zuckerberg Initiative and committed to give 99 percent of our Facebook shares during our lives to advance human potential and promote equality.
Today, Facebook's board of directors is announcing a proposal to create a new class of stock that will allow us to achieve both goals. I'll be able to keep founder control of Facebook so we can continue to build for the long term, and Priscilla and I will be able to give our money to fund important work sooner. Right now, there are amazing scientists, educators and doctors around the world doing incredible work. We want to help them make a bigger difference today, not 30 or 40 years down the road.
If this proposal goes into effect, we'll get to keep improving your Facebook experience the way we do today. And over the long term, I think you'll have better services and be part of a stronger community as a result. I believe in our community and the good we can do in the world, and I'm looking forward to continuing this journey with you.