Sean Parker donates $10M for autoimmune research
SAN FRANCISCO — Taking a page from the philanthropic playbook of Facebook CEO Mark Zuckerberg, Sean Parker on Monday made a major gift of his own.
He donated $10 million to establish a new research laboratory at the University of California-San Francisco Diabetes Center for autoimmunity research — and strongly hinted more is to come.
The 35-year-old Parker, who is worth an estimated $3.1 billion, has an "ongoing interest in immunology," dating to his health issues with allergies and asthma.
"The strategic plan is to eliminate type 1 diabetes," he said. "By no means is this the last grant."
Parker, who started companies including Napster and Airtime and was Facebook's first president, said he hopes to be a "catalyst" for scientific research that leads to improved treatments and reduced costs.
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Parker's donation comes on the heels of his support of a new initiative that would make marijuana legal for non-medical use in California. A representative for Parker said his backing is part of a larger movement tied to income equality.
Autoimmune diseases afflict 14 million to 22 million Americans, according to the National Institutes of Health (NIH). The annual medical costs for treating type 1 diabetes alone are $4.6 billion to $9.2 billion, according to the NIH. Asthma, an autoimmune problem, has been linked to diabetes.
"Look, this is an experiment, it is research," says UCSF's Jeffrey Bluestone, a leading immunologist. "I feel we'll make progress."
In June, Parker gave $4.5 million to the UCSF Global Health Group’s Malaria Elimination Initiative.
Parker's donation is illustrative of a growing number of younger tech entrepreneurs who have made it their business to invest in the community after accumulating riches.
Last month, Zuckerberg and his wife, Priscilla Chan, launched a multimillion-dollar private preschool, K-8 school and health services for children and families in impoverished East Palo Alto, Calif.
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Zuckerberg's co-founder in Facebook, Dustin Moskovitz, and his wife Cari Tuna, have pledged to give most of their wealth to charity.
Follow USA TODAY San Francisco Bureau Chief Jon Swartz @jswartz.