(bbc.com and combined sources) Facebook’s Mark Zuckerberg and his wife Priscilla Chan say they will give away 99% of their shares in the company to charitable causes. That amounts to more than $45 million.

The announcement was made on ‘#givingtuesday’ in an open letter on Facebook to the couple’s newborn daughter Max, born last week.

Zuckerberg said they were donating their fortune to the Chan Zuckerberg Initiative to make the world a better place for Max. Its initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities.

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