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Mark Zuckerberg donates $500 million in Facebook stock to Silicon Valley Community Foundation

Facebook founder, Mark Zuckerberg, donates Facebook stock worth $500 million to SV Community Foundat

| Business, Financial & Legal News | Posted: Dec 19, 2012 9:35 am

Facebook founder Mark Zuckerberg has said that he is donating Facebook stock worth $500 million to the Silicon Valley Community Foundation, which is the largest single gift in the history of the local nonprofit and one of the biggest philanthropic donations in the Bay Area this year.

 

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The social network founder told the world the news through his personal Facebook page, saying that he and his wife want to focus their giving on "education and health". This is Zuckerberg's second large donation, where in 2010 he donated $100 million in Facebook stock to Newark, New Jersey public schools.

 

Later in 2010, he joined the Giving Pledge which is an effort led by Microsoft founder Bill Gates and investor Warren Buffet, which gets the country's richest people to donate most of their wealth.

NEWS SOURCES:Washingtonpost.com

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