Facebook CEO Mark Zuckerberg has donated 18 million shares worth of Facebook stock to the Silicon Valley Community Foundation. Zuckerberg and wife Priscilla announced the nearly $500 million donation via Zuckerberg’s person Facebook page.
With Facebook shares currently trading at $27.71 the value of the donation is $498.78 million.
In a Facebook post Mark Zuckerberg writes:
“Two Years ago, Priscilla and I signed The Giving Pledge committing to donate the majority of the money we earn to charity.
Our first major project has been around education reform with Startup: Education in Newark, NJ. I’m raelly proud of the work we’ve done there, helping leaders like Governor Chris Christie and Mayor Cory Booker sign the most progressive teachers contract in our country, opening four new district high schools, 11 new charter schools and more.
Today, in order to lay the foundation for new projects, we’ve made a contribution of 18 million Facebook shares to the Silicon Valley Community Foundation. Together, we will look for areas in education and health to focus on next. I’m hopeful we’ll be able to have as positive an impact in our next set of projects.”
This is not the first big donation Mark Zuckerberg has made, during an interview with Oprah Winfrey the social network mogul donated $100 million to the Newark education system.