Silicon Valley, CA – Facebook CEO Mark Zuckerberg said Tuesday he is donating nearly $500 million in stock to a Silicon Valley charity with the aim of funding health and education issues.
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Zuckerberg donated 18 million Facebook shares, valued at $498.8 million 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 $100 million in Facebook stock to Newark, N.J., public schools in 2010, before his company went public earlier this year. Later in 2010, he joined Giving Pledge, an effort led by Microsoft Corp. founder Bill Gates and Berkshire Hathaway Inc. 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.
I hope someone in the Orthodox community has an “in” with him to help the tuition crises in the yeshiva world. 500 million should be able to get us started on the right road to recovery.
There are ways to better the world other then giving money so that yeshivas can build extravagant buildings. And the yeshiva tuition crises would be a better if the money wasnt going to support unnecessary costs.
To #5
“But if our heimisha billionaires would give most of there wealth for charity I don’t think that we would have problems with anything
Org won’t need to spend so much on fundraising”
Even though I might not agree on the first point – we don’t have so many frum billioners, and whoever we have – they give pretty nice,
The second point is good – choshuve people, we waste your hard making money to collect donation from you
on everege we waste 30% to pay fundraisers – because you wouldn’t give otherwise (you make the mosdos chase after you, so they just hire someone to do it)
than we make lavish dinners (from 100.000 to 1.000.000 $ to honor you, because you wouldn’t give otherwise)
Have rachmonos on your kosher gelt!
Learn hilchos Tzdoka and give proper!
nebech what a waste!!! 100 mil. to newark public schools? just drive thru newark and tell me its not thrown money out d window!