Facebook CEO Donates Almost $500 Million to Charity

Mark Zuckerberg makes his largest donation yet to help address health and education issues in Silicon Valley.

Mark Zuckerberg, co-founder and CEO of the social networking site Facebook, announced this week that he and his wife Priscilla are donating nearly $500 million in the company’s stock to the Silicon Valley Community Foundation.

The Los Angeles Times reports that Zuckerberg made the donation announcement to the Silicon Valley foundation on his Facebook Timeline. He said that he and his wife had, “earmarked the gift of 18 million Facebook shares for health and education issues … Together, we will look for areas in education and health to focus on next.”

The foundation released a statement from their CEO, Emmett D. Carson which said,

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

This is the largest donation Zuckerberg has given, but it is not the first time he has donated a large sum to help with health and education issues in the US. In 2010 he donated $100 million in Facebook shares to the Newark, N.J., public school through his foundation Startup:Education. Jen Holleran, the executive director of Startup:Education said,

This is great news for people who are passionate about improving public education. Mark’s commitment to dramatically improving the public schools in Newark has been making exciting progress and we’re thrilled to know that his larger dedication to philanthropy is continuing.

Zuckerberg’s generosity grants him admittance into an exclusive club of philanthropists, including members such as Bill Gates and Warren Buffett, who have started a movement called the Giving Pledge, which encourages the nation’s richest people to donate most of their wealth.

Mr. Zuckerberg’s donation, along with others like it, are a wonderful living example of what generosity truly looks like.

Picture: Marcin Wichary/Flickr

NOW TRENDING ON GMP TV

Flight or Fight
Forever Boogies
Are You A Narcissist?

Premium Membership, The Good Men Project

About Kathryn DeHoyos

Kathryn DeHoyos currently resides on the outskirts of Austin, TX. She has 2 beautiful children, and is very happily un-married to her life partner DJ.

Comments

  1. Zuckerberg’s personal wealth is estimated to be $9.4 billion as of 2012

    I would note that he gave “stock” which really doesn’t have much of an impact on his personal wealth. What he gave was part of his publically traded company. Good for him but in my book, blessed are the many who have little themselves that give to charity. In my eyes, the wealthy have wealth to give, and I can guarantee you that none of the ultra rich or rich for that matter, would give so much that would jeopardize their own life style. God bless the person who has nothing yet still gives.

    • Kathryn DeHoyos says:

      Still, $500 million is not an insignificant amount of money. Considering how many “ultra rich” (I like the way you said that by the way) don’t contribute anything (or very little) for education and health issues Mr. and Mrs. Zuckerberg should still be recognized for their contribution! JK Rowling, the creator of Harry Potter, is another of the ultra rich who makes huge donations! So huge in fact, that Forbes reported earlier this year she has lost her billionaire status due to the amount of donations and taxes she has paid (unlike others who look for any way possible to avoid paying taxes) on her fortune.

      http://www.telegraph.co.uk/culture/books/booknews/9129981/Forbes-list-JK-Rowling-fortune-under-vanishing-spell.html

      Although Mark Zuckerberg’s donation may be “pocket change” compared to his net worth I still think he, and others like him, are setting a great example…

  2. “The magazine said: “New information about Rowlings’ estimated $160 million (£101 million) in charitable giving combined with Britain’s high tax rates bumped the Harry Potter scribe from our list this year.””
    It’s my understanding she is a self make (former) billionaire and was once flat broke. I can see that because of her background why she would give to charities. …. I also didn’t know Britain has such a high tax rate.

Speak Your Mind

*