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Facebook Founder Donates Half a Billion Dollars to Charity

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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  • mouse24
    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...
    Reply
  • zipop
    donate some to palestine
    Reply
  • SteelCity1981
    key word is 18 million facebook shares.
    Reply
  • Devoteicon
    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.
    Reply
  • 24oz
    sell sell sell
    Reply
  • A Bad Day
    zipopdonate some to palestine
    Insta-FBI watch-listed
    Reply
  • combine1237
    Hmm, is that an income tax deduction?
    Reply
  • assasin32
    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.
    Reply
  • kyee7k
    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.
    Reply
  • thecolorblue
    A Bad DayInsta-FBI watch-listedahh... the chilling effect of the spy state... gotta love it.
    Reply