Meta CEO Mark Zuckerberg’s “Year of Efficiency” cost reduction initiative has spread to his family foundation.
Mark Zuckerberg and Priscilla Chan attend the 2020 Breakthrough Prize at NASA Ames Research Center on November 03, 2019 in Mountain View, California. The Chan Zuckerberg Initiative , headed by Zuckerberg’s wife Priscilla Chan, has laid off 48 employees on its education team,Mark Zuckerberg and Priscilla Chan attend the 2020 Breakthrough Prize at NASA Ames Research Center on November of 2019, in Mountain View, California.
CZI, founded in 2015, is one of the largest philanthropic organizations in the U.S. focusing on education. It has given grants to nearly 1,000 organizations working to support teachers. Zuckerberg and Chan have pledged to give away 99 percent of their Facebook shares, worth $45 billion at the time, to the nonprofit. CZI had $6.3 billion in assets under management at the end of 2020, according to its 2021 IRS filing, the latest available.
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