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Chan Zuckerberg Initiative to invest $3 bn in health research

Mark Zuckerberg and his wife Dr Priscilla Chan

Mark Zuckerberg and his wife Dr Priscilla Chan

Facebook co-founder and chief executive Mark Zuckerberg and wife Dr Priscilla Chan have pledged to invest more than $3 billion over the next ten years to develop research technology that can fight and cure diseases globally.

Last year, the two had announced that they will give away 99% of Facebook shares for philanthropy.

According to a report by The Wall Street Journal on Thursday, the pledge is one of the largest philanthropic initiatives in the world, valued at $46 billion.

Earlier this month, Indian ed-tech startup Byju’s raised $50 million (Rs 332 crore) in a funding round co-led by Chan Zuckerberg Initiative (CZI), marking the first investment of the philanthropic foundation in Asia.

The other co-founders of Facebook are also committed to charitable initiatives. Dustin Moskovitz is part of the Giving Pledge, through which many affluent individuals dedicate their family wealth to philanthropy. Earlier this year, Sean Parker said he would be donating $250 million to cancer patients.

Other tech billionaires who have donated to public health include Microsoft’s co-founder Bill Gates through Bill & Melinda Gates Foundation.

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