Donates nearly $500 million to local foundation that focuses on projects in health and education.
In what has become his largest donation to a charitable cause to date, Facebook CEO and founder Mark Zuckerberg has donated almost $500 million to the Silicon Valley Community Foundation, which focuses on projects in health and education.
This nonprofit foundation focuses on offering grants to serve the community in San Francisco. Zuckerberg said that he and his wife, Priscilla Chan, as well as the Silicon Valley Community Foundation will work together to "look for areas in education and health to focus on."
The donation has been delivered as a gift through 18 million Facebook shares, which is valued at more than $498 million when based on the social network's closing stock price of $27.71 on December 19.
"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," he said. "I'm hopeful we'll be able to have as positive an impact in our next set of projects."
Back in 2010, Zuckerberg and Chan signed The Giving Pledge, a campaign led by Microsoft founder Bill Gates and investor Warren Buffett that aims to see the richest individuals in the U.S. donate the majority of their wealth to philanthropic causes. Zuckerberg's first major donation was giving $100 million in Facebook stock to public schools in Newark, New Jersey in 2010.
Insta-FBI watch-listed
ahh... the chilling effect of the spy state... gotta love it.
If you thought the US was bad enough, head over to China. They put a couple of people under house arrest because of "excessively complaining" about their concerns for their children after the melamie milk scare.
Oh, and the guy who posted a website listing the 2007 earthquake's victims' names was also house arrested. His website was obviously taken down.
his money =/= his company's money
Go directly to Gitmo, do not pass go do not collect $200.
a)Because most Jewish are ugly: WROOOOOOOOONG!!!
b)Because most Jewish are "THE SYSTEM": RIIIIIIIIIIIIIIIIGHT!!!
Those people can raise livestock or grow crops, take a page out of a survivalists book. You don't need money to stay alive, it just takes the dirty work out of it.
Not really, preventative solutions for stopping disease, medical supplies for people that would otherwise have none, aid for people that find themselves caught in a conflict they have no interest in. Food is one thing, taking for granted basic ammenities that you and I have access to is another. Would you rather see a healthy middle class child receive slightly better education, or an impoverished child saved from a slow and horrific death from malaria?
I think with a lot of people, it probably boils down to "why should he spend money on anything other than America." To you, I say, were you born without a heart?
For everybody complaining that he gets a tax deduction for it: even if the charity is a bloated, inefficient organization that wastes 70% of the donation and the cause itself is suspect, there is a decent chance it would still be a far better use of the money than giving it to the government in taxes.