Facebook CEO Zuckerberg Gives $500 Million to Silicon Valley Community Foundation
Mark Zuckerberg in a file photo; Photo credit: Jason McElween via Wikimedia Commons
By Joe Buda
Las Vegas Informer
Mark Zuckerberg and his wife Priscilla are donating $500 million in Facebook stock to the Silicon Valley Community Foundation, a non-profit organization that assists philanthropists in managing donations.
According to the organization’s website, the organization simplifies giving, partners with “most effective” organizations to create change and advances “innovative philanthropic solutions” to problems.
Zuckerberg, Facebook’s Chief Executive Officer, is donating 18 million Facebook shares to the foundation.
Zuckerberg is no stranger to giving. He donated $100 million in Facebook stock in 2010 to Newark schools. That same year he agreed to become part of The Giving Pledge, an initiative started by Warren Buffett and Bill Gates that states the people making the pledge will give most of their wealth to charity.
The announcement for the donation was made on Zuckerberg’s Facebook page on Tuesday.
According to the post on Zuckerberg’s timeline, he looks forward to working with the foundation in finding areas of health and education to focus on.
Within the first 20 minutes of posting the statement, over 28,000 people “Liked” the post. It has been “Liked” by over 144,000 people as of 12/18/2012 at 10 p.m., a little over six hours after the announcement was made.
Here is Zuckerberg’s full post:
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.
Here is a link to the post on Facebook: Zuckerberg’s Facebook Announcement.