Loading...
See More

Facebook CEO donates $500m in stock

Dec 19 2012 07:55 AFP
Mark Zuckerberg

Facebook CEO Mark Zuckerberg. (Paul Sakuma, AP)

Related Articles

Facebook, Twitter ads lift mobile revenue

Facebook shares fall as lock-up expires

Facebook mobile growth allays fears

The next big Facebook

Facebook exec on damage control mission

Bosses take fun out of Facebook

 

San Francisco - Facebook CEO Mark Zuckerberg said on Tuesday he is donating nearly $500m in stock to a Silicon Valley charity with the aim of funding health and education issues.

Zuckerberg donated 18 million Facebook shares, valued at $498.8m based on their Tuesday closing price. The beneficiary is the Silicon Valley Community Foundation, a nonprofit that works with donors to allocate their gifts.

This is Zuckerberg's largest donation to date. He pledged $100m in Facebook stock to Newark, New Jersey, public schools in 2010, before his company went public earlier this year. Later in 2010, he joined Giving Pledge, an effort led by Microsoft founder Bill Gates and Berkshire Hathaway CEO Warren Buffett to get the country's richest people to donate most of their wealth. His wife, Priscilla Chan, joined with him.

In a Facebook post Tuesday, Zuckerberg, 28, said he's "proud of the work" done by the foundation that his Newark donation launched, called Startup: Education, which has helped open charter schools, high schools and others.

With the latest contribution, he added, "we will look for areas in education and health to focus on next." He did not give further details on what plans there may be for funds.

"Mark's generous gift will change lives and inspire others in Silicon Valley and around the globe to give back and make the world a better place," said Emmett D. Carson, CEO of the foundation.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

facebook  |  mark zuckerberg
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...