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Facebook CEO Mark Zuckerberg donates $120 million to Bay Area schools

Facebook CEO Mark Zuckerberg provides $120 million donation to assist San Francisco Bay Area schools, opening up his checkbook yet again

By Michael Hatamoto on May 30, 2014 02:40 pm CDT - 0 mins, 54 secs reading time

Facebook CEO Mark Zuckerberg will donate $120 million to low-income schools in the San Francisco Bay Area, at a unique time in Silicon Valley. Companies such as Google, Facebook, Twitter, and other major tech companies have been accused of turning their backs on the community, as affluent tech workers continue to drive up rental prices in an already pricey market even further.

Facebook CEO Mark Zuckerberg donates $120 million to Bay Area schools | TweakTown.com

The $120 million will be used over the next five years to create new public and charter schools, purchase equipment, improve training procedures, and boost other struggling programs.

"The world's most innovative community shouldn't also be a home for struggling public schools," Zuckerberg recently wrote. "There are many heroic educators doing their best to serve students here. But the challenges are much greater than the resources they receive."

Both Zuckerberg and his wife, Priscilla Chan, are big philanthropists, especially when it comes to promoting education in the Bay Area. The couple previously offered $100 million to Newark, New Jersey schools - and made a whopping $1.5 billion stock donation that is being spearheaded by the Silicon Valley Community Foundation.

Michael Hatamoto

ABOUT THE AUTHOR - Michael Hatamoto

An experienced tech journalist and marketing specialist, Michael joins TweakTown looking to cover everything from consumer electronics to enterprise cloud technology. A former Staff Writer at DailyTech, Michael is now the West Coast News Editor and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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