Zuckerberg donates $500mln to charity to 'fund health, education issues'

Sydney, Dec 20 (ANI): Mark Zuckerberg, founder of social networking giant Facebook has said that he is donating nearly 500 million dollars in stock to a Silicon Valley charity to fund health and education issues.

Zuckerberg donated 18 million Facebook shares, valued at 498.8 million dollars based on their Tuesday closing price.

The beneficiary is the Silicon Valley Community Foundation, a nonprofit that works with donors to allocate their gifts, the Sydney Morning Herald reports.

According to the paper, this is Zuckerberg's largest donation to date.

He pledged 100 million dollars in Facebook stock to Newark, New Jersey, public schools in 2010, before his company went public earlier this year.

In a Facebook post, Zuckerberg, 28, said he is '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, the report said. (ANI)


Get stories like this on the Yahoo app and discover more every day.
Download it now.