The famous Facebook founder Mark Zuckerberg is donating half a billion dollars to a Silicon Valley Charity. The 28-year old co-founder of the most famous social networking site said in his post last Tuesday that he would work with the charity to “look for areas in education and health to focus on.”
In 2012, he also shares around $100 million to the beleaguered public schools of Newark, New Jersey. He said that these gifts are part of his involvement in The Giving Pledge which was launched by Microsoft founder Bill Gates and investor Warren Buffet who asks US Billionaires to give away at least half of their wealth before or after their death with attached letters including their intention of giving their “gifts”.
So Zuckerberg said on Tuesday that he made a contribution of 18 million Facebook shares to the Silicon Valley Community Foundation to “lay the foundation for new projects.” At Tuesday’s closing price of $27.71 per Facebook share, the gift translates to $498.8 million.
This is a fine gift for a young billionaire who profits more to his “thesis” and has become one of the most successful social networking sites nowadays.
