Philanthropic community welcomes Zuckerberg's decision

Mark Zuckerberg will put 99 percent of his Facebook shares, currently worth about $45 billion, into a new philanthropy project focusing on human potential and equality, he and his wife said Tuesday in a letter to their newborn daughter. The plan, which was posted on the Facebook founder and chief executive officer's page and has attracted more than 360,000 'likes'. John Kobara of the California Community Foundation, one of the largest and oldest charitable foundations in the United States, welcomed the news. CHIEF OPERATING OFFICER, CALIFORNIA COMMUNITY FOUNDATION, JOHN KOBARA <<< "I wasn't shocked because when you have that kind of wealth, when you can give away 45 billion or 46 billion, you should be giving away a lot of your money. But I think it's good to set a standard and a model for other people to give. And so when I read the news, I said, that's good, good for Zuckerberg, because he's been generous so far and now he's making a statement about his wealth, his great wealth that most of it is going to go to philanthropy".