Sat, 23 Aug
° °
  • Firstline - TV3 New Zealand

    Firstline

    Weekdays 6am

  • 3 News - TV3 New Zealand

    3 News

    Nightly 6PM

  • Campbell Live - TV3 New Zealand

    Campbell Live

    Weekdays 7.00pm

  • 3rd Degree - TV3 New Zealand

    3rd Degree

    WEDNESDAYS 8.40PM

  • The Paul Henry Show - TV3 New Zealand

    The Paul Henry Show

    Weekdays 10.30pm

  • Three 60 - TV3 New Zealand

    Three 60

    Sundays 9.30am

  • The Nation - TV3 New Zealand

    The Nation

    Sat 9:30am / Sun 10am

Facebook CEO Zuckerberg donating $500M in stock

Wednesday 19 Dec 2012 3:26p.m.

Zuckerberg donating $500M in stock

By Barbara Ortutay

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.

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, 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.

AP

 
comments powered by Disqus