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While birth announcements are common on Facebook, founder Mark Zuckerberg’s post is a little different than most of the new parent pics in your newsfeed. That’s because along with welcoming daughter Maxima to the family, he and his wife Priscilla Chan announced their commitment to give away 99 percent of their Facebook shares — currently worth about $45 billion — to fund the Chan Zuckerberg Initiative that will try to “advance human potential and promote equality for all children in the next generation.” The two joined the Giving Pledge in 2010, promising to use most of their wealth for philanthropic efforts, and today’s announcement sheds more detail on how that will happen.

Source: Mark Zuckerberg (Facebook), SEC