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Learning From Mistakes Crucial in Spend-Down of Facebook Fortune, Chan Says


Priscilla Chan and her spouse, the Facebook co-founder Mark Zuckerberg, will hire a small, nimble, and visionary team of experts to guide the distribution of their $45 billion in philanthropy while engaging directly with those being served to understand their needs.

“We’ve learned that we must keep listening, learning, and improving, ” Dr. Chan said in an email response to questions from The Chronicle. “That’s why we’re starting young, so that we can get better over time.”

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The comments came three weeks after Dr. Chan and Mr. Zuckerberg pledged 99 percent of their Facebook holdings to the Chan Zuckerberg Initiative, a limited-liability company that will invest in for-profit companies, advocacy work, and nonprofit groups.

The couple will work with expert advisers in focusing their attention on personalized learning, curing diseases, connecting people, and strengthening communities, Dr. Chan said. As an example, she pointed to the independent board of Startup:Education, a nonprofit created by the couple in 2010 to house its education-focused grant making.

Read the full story at Philanthropy, by Megan O’Neil



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