Face book CEO Mark Zuckerberg has become a dad.

Let me inform a birth announcement today, guess what? Face book CEO Mark zuckerberg and his wife are proud parents of their new baby daughter Max. Last week Zuckerbergs wife Priscilla Chan gave birth to a 7pound and eight ounce daughter.

PriscillaChan has said that they will devote nearly all their wealth nearly $ 45billion to good works in celebration of their new baby. Surprisingly the couple didn’t put out the news until Tuesday but mark posted it on face book.

The couple said that they are going to commit 99 percent of their face book stockholding to such causes such as fighting disease, improving education along with building strong communities. Priscilla Chan has also pledged to give away at least half of their assets during their lifetime previously but unfortunately they have not provided any specifics.

PriscillaChan will pursue their goals through a combination of charitable donations, private investments and promotion of government policy reforms. Yes, like all parents they also want their child to grow up in a world better than what is today.

In my opinion,  this is an incredibly impressive and an enormous commitment that really eclipses anything in this world.PriscillaChan said that they want the most flexibility and they are going to use a wide variety of activities to achieve their mission. Their goals are advancing human potential and promoting equality by making long term investment over 25, 50 and 100 years.

Now Priscilla Chan the greatest challenge requires very long time horizons and this really cannot be solved by short term thinking. The couples are going to transfer most of their wealth to the initiative during their lives.