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Facebook co-founders pledge to give away fortunes

Zuckerberg, Moskovitz join The Giving Pledge

Facebook co-founders pledge to give away fortunes
Mark Zuckerberg, Facebook's co-founder has pledged to give away half of his fortune.

Facebook co-founders Mark Zuckerberg and Dustin Moskovitz have pledged to give away half of their fortunes to charity alongside another 15 US billionaires, according to Reuters.

A philanthropic campaign, called The Giving Pledge, led by Warren Buffet and Bill Gates was launched in June. The aim of The Giving Pledge is to get the super-wealthy to commit to giving away half of their fortunes either before they die or after their death. The drive does not tell the billionaires where to give their money and does not take the money itself, according to Reuters.

The Giving Pledge also asks those who take the pledge to explain their decision in writing. A total of 57 billionaires have now joined the campaign since it began.

The aim of The Giving Pledge is to get US billionaires to give away at least half their wealth during their lifetime or after their death, and to publicly state their intention with a letter explaining their decision, said Reuters.

The charity drive does not accept money or tell people how or where to donate their money, but asks the super wealthy to make a moral commitment to charity.

"People wait until late in their career to give back. But why wait when there is so much to be done?" Reuters quoted Zuckerberg, who gave $100 million in September to the public schools of Newark, New Jersey, as saying..

"With a generation of younger folks who have thrived on the success of their companies, there is a big opportunity for many of us to give back earlier in our lifetime and see the impact of our philanthropic efforts," he added.

Recent pledges were also made by technology billionaires such as the AOL co-founder Steve Case.

"We share the view that those to whom much is given, much is expected.  We realize we have been given a unique platform and opportunity, and we are committed to doing the best we can with it.  We do not believe our assets are "ours" but rather we try to be the responsible stewards of these resources - and we recognize we have an obligation to reinvest them in a positive, constructive and flexible manner," said Case in his pledge letter.

Have a look at our gallery of ten technology gurus who have taken the pledge to give half their money to charity here.

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