Facebook CEO Mark Zuckerberg to donate $500 mn in stock

Mark Zuckerberg

Facebook CEO Mark Zuckerberg says he is donating nearly USD 500 million in stock to a Silicon Valley charity to focus on health and education issues.

The gift of 18 million Facebook shares is valued at USD 498.8 million based on their closing stock price yesterday, when Zuckerberg, 28, made the donation. The beneficiary is the Silicon Valley Community Foundation, a nonprofit that works with donors to allocate their gifts.

This is Zuckerberg's largest donation to date. He pledged USD 100 million in Facebook stock to Newark, New Jersey, public schools in 2010, before his company went public earlier this year. Later in 2010, he joined Giving Pledge, an effort led by Microsoft founder Bill Gates and investor Warren Buffett to get the richest Americans to donate most of their wealth.

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on indianexpress.com are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, indianexpress.com reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.