Zuckerberg donating $500 million worth of Facebook stocks to Silicon Valley CharityBy Alex Jusi Madlangbayan on Dec 19, 2012 in Business, Internet, Stock Market, Technology, United States, World •
Mark Zuckerberg is donating $500 million worth of Facebook stocks to a Silicon Valley charity, according to a post by the CEO on his social network page on Tuesday, December 18, 2012.
The 28-year-old Facebook CEO is reportedly donating about 18 million shares to the Silicon Valley Community Foundation, a non-profit organization that reportedly help in allocating gifts from donors. Zuckerberg‘s donation aims to help fund health and education related concerns.
Reports say that Zuckerberg‘s latest donation is his largest after making a pledge of $100 million worth of Facebook stocks to fund public schools in Newark, New Jersey in 2010.
In a post on his Facebook page, Zuckerberg said that he was “proud of the work” done by the Newark foundation called Startup: Education. This probably inspired Zuckerberg to donate more and “look for areas in education and health to focus on next.”
Zuckerberg and wife Priscilla Chan has joined Giving Pledge, an organization led by Microsoft Corp. founder Bill Gates and Berkshire Hathaway Inc. CEO Warren Buffett, in 2010. Giving Pledge reportedly aims to encourage the richest people in the US to donate most of their wealth.
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