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Facebook Founder Donates Half a Billion Dollars to Charity

By - Source: Facebook | B 26 comments

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.

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  • 10 Hide
    Devoteicon , December 20, 2012 3:26 AM
    That's great. But I had trouble reading the article with his ugly mug staring back at me. Please do use that picture again. Thank you.
  • 10 Hide
    combine1237 , December 20, 2012 3:44 AM
    Hmm, is that an income tax deduction?
Other Comments
  • 0 Hide
    mouse24 , December 20, 2012 3:04 AM
    Not saying this wasn't awesome and a great thing to do but, after a while I would assume the money just keeps piling up and you can't spend it fast enough. Once you have everything you, well, have everything...
  • 0 Hide
    zipop , December 20, 2012 3:19 AM
    donate some to palestine
  • 5 Hide
    SteelCity1981 , December 20, 2012 3:23 AM
    key word is 18 million facebook shares.
  • 10 Hide
    Devoteicon , December 20, 2012 3:26 AM
    That's great. But I had trouble reading the article with his ugly mug staring back at me. Please do use that picture again. Thank you.
  • 2 Hide
    24oz , December 20, 2012 3:27 AM
    sell sell sell
  • 5 Hide
    A Bad Day , December 20, 2012 3:30 AM
    zipopdonate some to palestine


    Insta-FBI watch-listed
  • 10 Hide
    combine1237 , December 20, 2012 3:44 AM
    Hmm, is that an income tax deduction?
  • 3 Hide
    assasin32 , December 20, 2012 3:45 AM
    Go Zuckerberg! Good job! I always love it when I see people donate to charity like this and I sincerely hope it encourages more to do the same.
  • 1 Hide
    kyee7k , December 20, 2012 3:55 AM
    Not saying donating is bad but just curious on how Zuckerberg could give ~$500 million when his company's shares took a bloodbath this year.
  • 2 Hide
    thecolorblue , December 20, 2012 4:04 AM
    A Bad DayInsta-FBI watch-listed

    ahh... the chilling effect of the spy state... gotta love it.
  • 7 Hide
    Anonymous , December 20, 2012 4:59 AM
    OOhh, Instagram, sell your pictures, yeah great idea, change the T&C's, OOPS, our users noticed , TANK Quick quick, do something, give to charity!
  • 0 Hide
    A Bad Day , December 20, 2012 6:03 AM
    thecolorblueahh... 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.
  • 1 Hide
    bustapr , December 20, 2012 6:23 AM
    kyee7kNot saying donating is bad but just curious on how Zuckerberg could give ~$500 million when his company's shares took a bloodbath this year.

    his money =/= his company's money
  • 1 Hide
    NuclearShadow , December 20, 2012 7:08 AM
    This is a awfully great act. I may not be a fan of Facebook but I have growing respect for Zuckerberg.

    zipopdonate some to palestine


    Go directly to Gitmo, do not pass go do not collect $200.
  • 0 Hide
    Steveymoo , December 20, 2012 10:27 AM
    Far be it from me to say where this guy should be throwing his money around. But I can think of people and causes in far greater need than the local American education and health care systems. Help people that don't have means to help themselves plz, take a leaf out of Bill's book of philanthropy.
  • -5 Hide
    Anonymous , December 20, 2012 10:59 AM
    Giving away 500 million, probably saves him some billions from taxes...Classic super-rich "philanthropist"...And last but not least; why all super-rich (or, at least, those "said-to-be marionettes") are Jewish and ugly?

    a)Because most Jewish are ugly: WROOOOOOOOONG!!!

    b)Because most Jewish are "THE SYSTEM": RIIIIIIIIIIIIIIIIGHT!!!
  • -1 Hide
    mouse24 , December 20, 2012 12:59 PM
    SteveymooFar be it from me to say where this guy should be throwing his money around. But I can think of people and causes in far greater need than the local American education and health care systems. Help people that don't have means to help themselves plz, take a leaf out of Bill's book of philanthropy.


    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.
  • 2 Hide
    sayantan , December 20, 2012 1:20 PM
    Why didn't they donate it to AMD ?
  • -1 Hide
    Steveymoo , December 20, 2012 1:22 PM
    mouse24Those 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?
  • 0 Hide
    didgetmaster , December 20, 2012 1:35 PM
    Good for him. It is his money and he can do whatever he wants with it. If he flushed it down the toilet it wouldn't be any of my business (unless it clogged up my sewer line). Hopefully, the charity he chose will put the money to good use and benefit a lot of people.

    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.
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