Many billionaires turned to philanthropy late in their lives. In Silicon Valley, some are turning to it much earlier.
The most prominent example of that trend happened on Tuesday when Mark Zuckerberg, the Facebook co-founder and chief executive, said he and his wife, Priscilla Chan, plan to give away 99 percent of their Facebook shares — currently valued at $45 billion — for charitable purposes. The couple made their announcement in an open letter to their newborn daughter, Max.
Mr. Zuckerberg and his wife are entering largely uncharted territory by giving away wealth of such scale, and without a clear road map of where the money may go, write Vindu Goel and Nick Wingfield.
The move is a reminder of how wealth can often come early in Silicon Valley, when young tech company founders strike it rich, and how that affords them more time to decide what to do with the money. Other young billionaires are also signing up to do more, for example through the Giving Pledge, an effort set up in 2010 by Bill and Melinda Gates for philanthropic purposes.