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16 Tycoons Agree to Give Away Fortunes

December 9, 2010 /

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The billionaire founder of social network Facebook Inc. has agreed to give the majority of his wealth to charity, part of a broader group of rich entrepreneurs committing to philanthropy earlier in their lives.

Mark Zuckerberg has signed onto the "Giving Pledge," which asks its signatories to commit publicly to give away the majority of their wealth.

The 26-year-old is one of 16 billionaires new to the pledge, which now totals more than 50 donors. New names include AOL co-founder Steve Case, investor Carl Icahn and former junk-bond king Michael Milken.

By ROBERT A. GUTH And GEOFFREY A. FOWLER

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