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Facebook boss makes huge Christmas charity donation

By Sapa-AFP | Dec 20, 2012 | COMMENTS [ 4 ]

Gift is worth half-billion dollars

SAN FRANCISCO - With Christmas just days away, Facebook co-founder Mark Zuckerberg has announced a donation of about a half-billion dollars worth of his company’s stock to charity in Silicon Valley.

Zuckerberg and his wife, Priscilla, gave 18 million shares to a foundation to orchestrate grants for local causes focused on education and health, according to a post on his Facebook page.

“Two years ago, Priscilla and I signed The Giving Pledge, committing to donate the majority of the money we earn to charity,” he said in the message.

“In order to lay the foundation for new projects, we’ve made a contribution of 18 million shares to the Silicon Valley Community Foundation.” 

Zuckerberg is one of more than a dozen US billionaires who pledged to donate the majority of their wealth to charity.

The Giving Pledge is the brainchild of Microsoft mogul Bill Gates and investment guru Warren Buffett, who set out to convince the richest people in the country to give 50% or more of their fortune to charity.

Zuckerberg’s first major charitable project was to fund a $100 million grant programme to reform a troubled school district in Newark, New Jersey.

“I’m really proud of the work we’ve done there,” Zuckerberg said of the ‘Startup: Education’ set in motion in New Jersey.

“I’m hopeful we’ll be able to have as positive an impact in our next set of projects.” 

The foundation getting the funds serves San Mateo and Santa Clara counties in California with a mission to “solving the most challenging problems, improving the quality of life and inspiring greater civic participation throughout the region,” according to its website.

COMMENTS [ 4 ]

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True givers not motsepe who only donates R10million wheres he made R7billions this year at our own mines. The Mariakana massacre was caused by motsepe and his political friends greediness.If u make 7billions a year as your own profit then give back 3billions. ramaphosa and motsepe are hypocrites.

Dec 20, 2012 12:6 | 0 replies

Well Done Sir, this world needs people like you!

Dec 20, 2012 12:29 | 0 replies

Well done

Dec 20, 2012 12:43 | 0 replies

most biz owners do this in the US during the end of the yr to avoid tax the following yr. do you know how much he would be paying in tax, now he gives a fragtion of that to charity and his tax his clashed down. go ask Donald Trump.

Dec 20, 2012 10:36 | 0 replies