Dr. Priscilla Chan had her baby daughter today — her name is Max. She and her husband — Mark Zuckerberg — announced the birth on Facebook, obviously.

Not just your average baby announcement, though. In the note to baby Max on Facebook, the couple also pledged to give away 99 percent of their Facebook shares in their lifetime to “advance human potential and promote equality for all children in the next generation.” Those shares, by the way, are currently worth about $45 billion.

Zuckerberg also made a second announcement in an SEC filing via Facebook which said, “Mr. Zuckerberg has established a new entity, the Chan Zuckerberg Initiative, LLC, and he will control the voting and disposition of any shares held by such entity.”

The filing noted that Zuckerberg will not give away more than $1 billion per year over the next three years.

Zuckerberg is taking two months of paternity leave, by the way.