To mark the occasion of the birth of their first child, Facebook founder and CEO Mark Zuckerberg and his wife, Dr. Priscilla Chan, made a big announcement. In a December 1, 2015, Facebook post, the couple declared their intention to give 99 percent of their Facebook shares to “advance human potential and promote equality for all children in the next generation.”1 But rather than establishing a tax-exempt private foundation to pursue these ambitious goals, they said they would promote their phila…

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