Meta Platforms (META) co-founder and CEO Mark Zuckerberg and his wife Dr. Priscilla Chan are stepping up their charitable giving with a brand new $250 million medical research facility in Chicago.
The pair will build a biomedical research facility that will harness the power of a consortium of researchers from Northwestern University, the University of Chicago, and the University of Illinois Urbana-Champaign.
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The new Chan Zuckerberg Biohub Chicago, which will follow on the success of the couple's first Biohub in San Francisco, says it has a goal of "solving grand scientific challenges on a 10-to-15-year time horizon.
The biohub will "embark on science to embed miniaturized sensors into tissues that will allow us to understand how healthy and diseased tissues function in unprecedented detail," the Chan Zuckerberg Initiative announced this week.
"This might feel like science fiction today, but we think it’s realistic to achieve huge progress in the next 10 years.'
The biohub hopes to make progress on cancer immunotherapy, heart disease, and Alzheimer's.
Zuckerberg is following in the philanthropic footsteps of his fellow 0.01%ers like Bill Gates and Jeff Bezos.
Last year, Bezos pledged to donate the majority of his $100 billion+ fortune during his lifetime to fight climate change and reduce inequalities around the world.
Zuckerberg's fortune has shrunk dramatically over the past year as massive spending on metaverse projects has spooked investors in the company who fear it may never pay off. Indeed, Zuckerberg appears to have shifted his focus to artificial intelligence projects. The company also just announced sharp price cuts for its high-end virtual reality headsets aimed at business users.
