Facebook Wants You To Know That Zuckerberg's 99% Initiative Is Not A Charity

The company is going out of its way to make the point, which is raising questions about the exact nature of the new initiative.

Facebook is going out of its way to emphasize that CEO Mark Zuckerberg's pledge to give away 99% of his company shares is not about charity, but philanthropy. It's a distinction that has non-attorneys scratching their heads and raising questions about the exact nature of his massive donation to a new venture, the Chan Zuckerberg Initiative, LLC. The initiative will fund nonprofit organizations and make private investments, and any profits from such investments "will be used to fund additional work to advance the mission," explained Facebook.

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