By Oliver Gettell
Updated December 01, 2015 at 10:56 PM EST
Credit: Mark Zuckerberg via Facebook

Mark Zuckerberg knows how to make a splashy birth announcement.

The Facebook founder and CEO and his wife, Priscilla Chan, have pledged to donate 99 percent of their stock in the company — holdings currently valued at about $45 billion — to charity during their lifetimes. The couple made the announcement on Facebook in an open letter to their newborn daughter, Max.

According to their post, Zuckerberg and Chan hope to “advance human potential and promote equality — by curing disease, personalizing learning, harnessing clean energy, connecting people, building strong communities, reducing poverty, providing equal rights and spreading understanding across nations.”

The two are launching the Chan Zuckerberg Initiative to manage the money and carry out the philanthropic mission. Read the letter below.