Most parents take care of announcing a new family member with witty cards or heartwarming telephone calls, but that’s too mainstream for social media mogul Mark Zuckerburg and his wife Priscilla Chan, who announced the birth of their daughter Max earlier this month.

In a letter addressed to the new mini-Zuckerburg, the two proud parents outlined their hopes and dreams for the new generation of technological savants– but that’s not all the couple had to say. The new parents have begun their own foundation they call the Chan Zuckerberg Initiative, “to join people across the world to advance human potential and promote equality for all children in the next generation. Our initial areas of focus will be personalized learning, curing disease, connecting people, and building strong communities.” To realize this goal, they’ve pledged to give 99% of their Facebook shares (currently worth approximately $45 billion) over the course of their lifetimes.

Their foundation isn’t all that new, however. It officially launched in November of 2009 with a $5 million donation to the University of California San Francisco Children’s Hospital, which was in the middle of raising funds for a new Mission Bay hospital that actually opened earlier this year. Chan did her residency at UCSF, and the donation was her way of giving back to all the good teachers she had over the years. In an interview on The Today Show, she stated, “It was really my teachers that got me these opportunities to attend college, to go to medical school, and to be able to give back as a doctor today… And then when I got to Harvard, it was even more opportunities that I didn’t know existed. So their effects have only compounded over time.” Since then, the foundation has gone on to fund (primarily) education and energy organizations world-wide, such as the Breakthrough Energy Coalition (of which Bill Gates is also a major contributor). Despite all the donations and humanitarian work over the years, few imagined such a renewed vigor and commitment to the foundation.

Zuckerberg and Chan have stated time and time again that their goal is to invest in humanitarian and philanthropic organizations to make the world a better place for everyone. Even in the past, the couple had promised to give at least half of their wealth during their lifetime – but now is the first time specifics are beginning to emerge. The couple is quick to add in their letter that they will finalize the details in the coming months once they “settle into our new family rhythm and return from our maternity and paternity leaves.” Though the approximately $45 billion will not be donated all at once, the Bill and Melinda Gates Foundation has so far donated slightly over $41 billion, and that’s counting the large contributions from businessman magnate Warren Buffett.

Regardless of how the details will unfold, Max’s future — and that of the whole world — have just gotten a little bit brighter thanks to this announcement. As the two new parents stated themselves, “Building a better world starts with building strong and healthy communities.” Here’s to the first step in that noble vision.