Facebook co-founder and CEO, Mark Zuckerberg, today announced he and wife Priscilla have contributed 18 million Facebook shares to the Silicon Valley Community Foundation. This amounts to nearly $500 million ($498.8 to be precise) on today’s closing price of $27.71. The Foundation will focus in areas in education and health. Also Read - WhatsApp Multi-device support confirmed, public beta rollout begins in two months: Mark Zuckerberg
This is not the first time Zuckerberg is donating for charity. Earlier he had donated $100 million in Facebook stocks in 2010 (before the company went public) to Startup Education in Newark that enabled the opening of four new district high schools and 11 new charter schools. Also Read - Mark Zuckerberg uses WhatsApp rival messaging app Signal suggests leaked Facebook data
The Zuckerbergs have signed The Giving Pledge, an initiative by Bill Gates and Warren Buffet that urges the wealthiest people to donate their wealth to charities. Here’s Mark Zuckerberg’s Facebook post announcing the donation. Also Read - Facebook sued by US govt over antitrust issues & maintaining 'monopoly power'
Two years ago, Priscilla and I signed The Giving Pledge, committing to donate the majority of the money we earn to charity.
Our first major project has been around education reform with Startup: Education in Newark, NJ. I’m really proud of the work we’ve done there, helping leaders like Governor Chris Christie and Mayor Cory Booker sign the most progressive teachers contract in our country, opening four new district high schools, 11 new charter schools and more.
Today, in order to lay the foundation for new projects, we’ve made a contribution of 18 million Facebook shares to the Silicon Valley Community Foundation. Together, we will look for areas in education and health to focus on next. I’m hopeful we’ll be able to have as positive an impact in our next set of projects.