Mark Zuckerberg Donates $500 Million In Stock To Charity
As the creator of the popular social networking site Facebook, big ballin’ is Mark Zuckerberg’s hobby and he’s no Scrooge.
Just in time for the holidays, the 28-year-old made a generous and business-savvy donation of $500 million in stock to a Silicon Valley charitable foundation, the LA Times reports.
“Mark’s generous gift will change lives and inspire others in Silicon Valley and around the globe to give back and make the world a better place,” Emmett D. Carson, CEO of Silicon Valley Community Foundation, said in a statement.
The Zuck says he and his wife, Priscilla, bestowed the 18 million Facebook shares for health and education issues. Unsurprisingly, he made the announcement on his timeline. “Together, we will look for areas in education and health to focus on next,” Zuckerberg posted The gift, reportedly worth $498.8 million based on Tuesday’s closing stock price, is Zuckerberg’s largest donation.
In 2010, he forwarded $100 million in Facebook stock to Newark, N.J., public schools. He joined the Giving Pledge–the push from Microsoft founder Bill Gates and investor Warren Buffett–later that year to get the nation’s richest to donate a good chunk of their assets.
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