Facebook founder Mark Zuckerberg and his wife plan to donate 99 percent of their shares in the social network to charity.

The holding, worth around $45 billion, will be given to causes which "advance human potential and promote equality for all children in the next generation", Mr Zuckerberg said in an open letter.

The pledge came as the billionaire and his wife, Priscilla Chan, announced that they have become parents for the first time following the birth of their daughter.

Mr Zuckerberg plans to give away no more than $1 billion a year for the next three years while holding on to maj...