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Facebook’s Zuckerberg signs Giving Pledge; commits to give away majority of wealth

Updated Dec 19th, 2018 6:56PM EST

The Wall Street Journal is reporting that Facebook founder and CEO, Mark Zuckerberg, has signed the Giving Pledge, committing to donate the majority of his fortune to charitable organizations. The Pledge, which asks its signers to give away the lion’s share of their wealth during their lifetime, was organized by Microsoft founder Bill Gates and Wall Street mogul Warren Buffet. Other notable signatories of the pact include: Oracle CEO Larry Ellison, New York mayor Michael Bloomberg, AOL co-founder Steve Case, and film director George Lucas.

Mr. Zuckerberg, who has been quoted as saying wealth is both an “advantage” and a “responsibility,” made his first sizable donation of $100 million to New Jersey’s Newark Public School system this past September. “There’s so much that needs to be done, it would be better to start now,” said the CEO in a prepared video.

Although his company’s valuation is based on a future IPO, Mr. Zuckerberg’s net worth is estimated at $6.9 billion.