Meta CEO Mark Zuckerberg and his wife, Priscilla Chan, are expecting baby No. 3

• Mark Zuckerberg and Priscilla Chan are expecting their third child.
• "Happy to share that Max and August are getting a new baby sister next year!" he wrote on Instagram.

Mark Zuckerberg is about to be a dad for the third time.

The Meta CEO announced Wednesday that he and his wife, Priscilla Chan, are expecting their third child, a girl.

"Lots of love," Zuckerberg wrote in an Instagram post, accompanied by a selfie of Chan and him. "Happy to share that Max and August are getting a new baby sister next year!"

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A post shared by Mark Zuckerberg (@zuck)

Zuckerberg and Chan, who are college sweethearts, have been married since 2012 — their wedding day was one day after Facebook's initial public offering. Facebook changed its corporate name to Meta in 2021.

Their oldest daughter, Max (short for Maxima) was born in 2015, and on the day the couple announced her birth, they also unveiled their philanthropic fund, The Chan Zuckerberg Initiative. The fund is backed by Zuckerberg's Meta fortune and aims to cure the world's diseases during their daughter's lifetime.

The couple's second daughter, August, was born in 2017. Prior to her birth, Zuckerberg said he would take two months of paternity leave. (Meta offers four months of leave to all new parents.)

Zuckerberg was previously one one of the world's richest people, but his net worth has taken a beating this year. Though he started 2022 with a $125 billion fortune, it's since nosedived $70 billion, or about 55%, following Facebook's rebrand to Meta and the company's first-ever drop in user numbers this year. Zuckerberg is currently the 20th-richest person in the world, according to Bloomberg's Billionaires Index.