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Friday, 30 May 2014

Mark Zuckerberg and Wife Priscillia Pledges $120 million to Help Struggling Schools

Facebook CEO Mark Zuckerberg and his wife, Priscillia on Thursday pledged $120 million to help schools in low-income Bay Area communities in the US. This amounts to their biggest publicly announced donation to a local cause. "The world's most innovative community shouldn't also be a home for struggling public schools," Zuckerberg said, announcing the pledge in an essay written for this newspaper's opinion section. "Helping improve the quality of public education in this country is something we both really care about," wrote Zuckerberg.

Zuckerberg and his wife, Priscilla Chan, have made headlines with big charitable gifts before: He gave $100 million to help schools in Newark, N.J., and the couple later donated stock worth more than $1.5 billion to a fund administered by the Silicon Valley Community Foundation which made them the nation's biggest charitable donors in 2013.  The latest gift, which also comes from that fund, will help "improve education for under-served communities" over the next 5 years, Zuckerberg said. 

Some of the $120 million will help start new public and charter schools in the Bay Area while the rest will pay for equipment, training and other programs at existing schools. The first $5 million will go to needy schools in the Ravenswood and Redwood City school districts and other "high-need" neighborhoods of San Francisco. Zuckerberg, who turned 30 this month, is a Harvard drop-out who became one of the world's richest men. He's currently worth about $28 billion, thanks to his stake in the giant social networking company he co-founded in 2004. Chan is a children's doctor who once worked as a schoolteacher.

1 comment:

  1. You see! Zuckerberg, Bill Gates etc., appreciate and value wealth and therefore give back to society but here in Naija it is grab, grab, grab etc., especially by our politicians.

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